Wall Street was downbeat last week. Each of the key equity gadgets — the S&P 500 (down 4.7%), the Dow Jones (down 4%), the Nasdaq Composite (down 5.1%) and the Russell 2000 (down 6.6%) — lost last week. Rising rate worries and recessionary fears were the key concerns.The benchmark S&P 500 dropped 1.7% on Friday, hitting a fresh 2022 low. The Dow Jones Industrial Average retreated 1.6% on Sep 23, briefly falling into the bear market territory at one point during the session and closing at a 2022 low. The technology-heavy Nasdaq Composite fell 1.8%, while Russell 2000 was off 2.5%.Meanwhile, the 2-year U.S. Treasury note notched past a 15-year high of 4.2% and the 10-year U.S. Treasury held near 3.7%, marking the highest level since 2010, per a Yahoo Finance article. In commodity markets, crude oil fell sharply, with United States Oil Fund LP USO falling 5.3% on Sep 23 and losing 6.6% for the week. Recessionary fears weighed on the demand for oil and gas.Last week, Federal Reserve officials raised interest rates by 75 basis points three times in a row and Chair Jerome Powell indicated that policymakers were ready to digest the economic recession in order to tame inflation. Central banks around the world have recently been on this path.The Bank of England hiked its key interest rate to 2.25% from 1.75% on Thursday and said it would continue to "respond forcefully, as necessary" to tame inflation, despite the economic concern. The BoE estimates Britain's economy will shrink 0.1% in the third quarter.The Central Bank of Sweden announced a 100 basis points hike in interest rates last week, saying that the inflation was too stubborn. Despite the 100-bps hike, the Riksbank is still behind its inflation target by 0.25%, which indicates further rate hikes. The Swiss central bank also hiked rates by 75 basis points to 0.5% Thursday. The move brought an end to an era of negative rates in Europe.Rising yields globally particularly hurt valuations of companies in the growth sector (e.g. technology, biotech and Internet), which have high expected future earnings. Against this backdrop, below, we highlight a few inverse/leveraged ETFs of last week. ETFs in FocusInverse Leveraged Travel Bank of Montreal Microsectors Travel -3X Inverse FLYD – Up 39.55%Inverse Leveraged Oil & Gas Microsectors Oil & Gas Exp. & Prod. -3X Inverse OILD – Up 30.2%S&P Oil & Gas Exploration Bear 2X Direxion DRIP – Up 29.3%Microsectors -3X U.S. Big Oil Index ETN NRGD – Up 27.4%Inverse Leveraged Biotech S&P Biotech Bear 3X Direxion LABD – Up 27.4%Inverse Leveraged High BetaS&P 500 High Beta Bear 3X Direxion HIBS – Up 26.8%Inverse Leveraged InternetDow Jones Internet Bear 3X Direxion WEBS – Up 22.1% Want key ETF info delivered straight to your inbox? Zacks’ free Fund Newsletter will brief you on top news and analysis, as well as top-performing ETFs, each week.Get it free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report United States Oil ETF (USO): ETF Research Reports Direxion Daily S&P Biotech Bear 3X Shares (LABD): ETF Research Reports Direxion Daily S&P Oil & Gas Exp. & Prod. Bear 2X Shares (DRIP): ETF Research Reports MicroSectors Oil & Gas E&P 3x Inverse Leveraged ETNs (OILD): ETF Research Reports MicroSectors U.S. Big Oil Index 3X Inverse Leveraged ETN (NRGD): ETF Research Reports Direxion Daily Dow Jones Internet Bear 3X Shares (WEBS): ETF Research Reports Direxion Daily S&P 500 High Beta Bear 3X Shares (HIBS): ETF Research Reports MicroSectors Travel 3X Inverse Leveraged ETNs (FLYD): ETF Research Reports To read this article on Zacks.com click here. Zacks Investment Research