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Emerging Market ETFs Experience Significant Drop

  +Follow August 21, 2013 11:56AM
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Emerging market investors were hit with bad news on several fronts, as distressing economic developments in three separate countries created cause for concern.

India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations. Simultaneously, the country is taking measures to stop the rapid plunging of the rupee, and the resulting diminished ability of Indian companies to invest abroad.

Meanwhile, Turkey raised interest rates to combat the quickly depreciating value of their currency, the lira. Turkey has been rocked by protests since the late spring, and their economy has in turn remained turbulent. On Aug. 20 the country took drastic measures to prop up the lira, raising rates a whopping 50 basis points.

Another emerging market experiencing major inner turmoil, Brazil, experienced a major setback when their struggling municipal bond market was brought to a complete standstill. On Aug 21 two major banks, Credit Suisse Group (CS) and Bank of America Corp. (BAC) collected $140 million in fees on borrowings, essentially crippling the country's developing bond market.

Emerging market ETFs fell on the bad news. Direxion Daily Emerging Market Bull 3X Shares ($EDC) dropped 6.56 percent to hit $21.50 a share. iShares MSCI Turkey Invest Market Index (TUR) dropped 4.86 to hit $52.58 a share. Direxion Daily Latin America Bull 3X Shares ($LBJ) fell 5.68 percent to hit $18.60 a share. WisdomTree India Earnings ($EPI) fell 4.4 percent to hit $13.70 a share amid high volume.

Direxion Daily India Bull 3X Shares ($INDL) was the biggest loser on the day, dropping 15.29 percent to hit $33.46 a share.

(image courtesy of Wikimedia Commons)

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for EDC
Nevara Roldan
24 Oct 14 01:38:17
RT @interaksyon: RT @bworldph: RT @camcfeliciano: $EDC bags seven new renewable energy contracts, six for wind and one for solar
Jorch
23 Oct 14 22:33:56
RT @PugTrader: $EEM not out of the woods IMHO with an enigmatic formation and large volume these days #FTR1 $EDC $EDZ http://t.co/mh6GZA1…
Pug Trader
23 Oct 14 21:21:55
$EEM not out of the woods IMHO with an enigmatic formation and large volume these days #FTR1 $EDC $EDZ http://t.co/mh6GZA1IDe
Omar G. Huerta
23 Oct 14 10:27:09
Probablemente tengamos que decir adiós en el #SIC-BMV a los etfs apalancados e inversos $EDC $EDZ $FAZ $FAS. http://t.co/ccjEtf8JcG
Philstocks.ph
23 Oct 14 01:50:32
$EDC secures $315M financing for Burgos Wind
chartguy89
22 Oct 14 10:44:01
EDC Stock Chart $EDC $YY $HPQ $MYEC http://t.co/mmyxwPNoKF http://t.co/ya4r8D6iAP
chartguy89
22 Oct 14 09:51:56
SIX Stock Chart $SIX $EDC $EBAY $RGLS http://t.co/3UX1jBdLQX http://t.co/ZGRnSQG9Ez
Investors Hangout
22 Oct 14 09:17:49
danrocks: $GRCU any other opinions on this? $HD $EDC $XLI http://t.co/L2ZcRRnB6S
Investors Hangout
22 Oct 14 09:17:29
danrocks: $GRCU any other opinions on this? $HD $EDC $XLI http://t.co/rRe1RrRcJe
danrocks
22 Oct 14 08:53:50
$GRCU any other opinions on this? $HD $EDC $XLI $SDRL $EBAY http://t.co/tGy7IB2qIX
leahanne
22 Oct 14 08:42:06
$GDX Gold Miners ETF Market Vectors (GDX) 20.80 -0.30 (-1.42%) $EFA $SMN $EDC http://t.co/WSPyLdPLJc
Investors Hangout
22 Oct 14 08:16:35
DennyT: TVIX Basic Chart $TVIX $CENX $CMG $HPQ $EDC Buy http://t.co/Am3E6fYM9k
Investors Hangout
22 Oct 14 08:15:31
DennyT: TVIX Basic Chart $TVIX $CENX $CMG $HPQ $EDC Buy http://t.co/KUBArQbIsu
DennyT
22 Oct 14 07:47:51
TVIX Basic Chart $TVIX $CENX $CMG $HPQ $EDC Buy or Sell Opinion,50 Simple Moving Average,Volume,Headlines,Hitt http://t.co/wv8eBzYroX
Investors Hangout
22 Oct 14 07:13:31
danrocks: $CENX Making Some Noise $TRUE $EDC $IYR $IBIO http://t.co/x6dgAMXYtg
Investors Hangout
22 Oct 14 07:13:27
danrocks: $CENX Making Some Noise $TRUE $EDC $IYR $IBIO http://t.co/SWc1HMzXMa
danrocks
22 Oct 14 07:09:52
$CENX Making Some Noise $TRUE $EDC $IYR $IBIO $CAT http://t.co/cSu5pFMbpE
OTPicks.com
22 Oct 14 06:48:45
http://t.co/hjgLwIcNgz Emylers: $EDC Up to date company activities and other: Emylers http://t.co/Ua7B5OPoiv http://t.co/hjgLwIcNgz
Investors Hangout
22 Oct 14 06:43:33
Emylers: $EDC Up to date company activities and other http://t.co/73B7cb6R56
Investors Hangout
22 Oct 14 06:43:08
Emylers: $EDC Up to date company activities and other http://t.co/KOmHcvr7hD
Emylers
22 Oct 14 06:37:07
$EDC Up to date company activities and other important information about $EDC http://t.co/MYi385rJt5
Iván Santiago
21 Oct 14 12:33:25
lastima de Brasil sino el $EDC +1.69% iria mucho mejor pero que tal el super $FAS +6.19%
Silentmax
21 Oct 14 02:47:10
RT @pnoytrader: PHL's biggest wind farm to be completed by November – $EDC http://t.co/pLAbpyrYm9 via @gmanews
Eisen
21 Oct 14 02:28:28
RT @pnoytrader: PHL's biggest wind farm to be completed by November – $EDC http://t.co/pLAbpyrYm9 via @gmanews
aDriAn CaMpOs
21 Oct 14 02:20:09
PHL's biggest wind farm to be completed by November – $EDC http://t.co/pLAbpyrYm9 via @gmanews
BPI Trade
20 Oct 14 19:30:41
As of 10:30AM, #PSEi up 28.92pts +0.41% to 7,086.45. Most active stocks include $BLOOM +2.83%, $EDC +1.84%, and $TEL +1.45%. #BLOOMing
Philstocks.ph
20 Oct 14 18:11:34
$EDC borrows US$315m for Burgos Wind Project
Tactical Investor
20 Oct 14 17:12:46
$EDC signs $315m financing agreement for Philippines wind project
OTPicks.com
20 Oct 14 11:16:30
http://t.co/hjgLwIcNgz DennyT: EDC Financials $EDC $GOGO $EWY $DOW $HQD.TO Buy: DennyT http://t.co/W9JwqSMtdy http://t.co/hjgLwIcNgz
Investors Hangout
20 Oct 14 11:12:13
DennyT: EDC Financials $EDC $GOGO $EWY $DOW $HQD.TO Buy http://t.co/K0CotTRM89
Investors Hangout
20 Oct 14 11:12:12
DennyT: EDC Financials $EDC $GOGO $EWY $DOW $HQD.TO Buy http://t.co/4uaSUMN7Yf
DennyT
20 Oct 14 11:09:02
EDC Financials $EDC $GOGO $EWY $DOW $HQD.TO Buy or Sell Opinion,TA,Low,Company News,Hit my list a few days ago http://t.co/Rg4Dv9CSJ4
chartguy89
20 Oct 14 10:10:27
HXU.TO Stock Chart $HXU.TO $QLD $DIS $EDC http://t.co/CEAlVY6SyX http://t.co/mv31ZhcVaA
lookn4wins
20 Oct 14 09:23:28
$CMG Parabolic SAR $CMG Most recent stock chart and technical analysis. $GALT $EDC $DUST $VRX $HUV.TO $BAC htt http://t.co/wNVvzCwW67
Investors Hangout
20 Oct 14 09:07:26
jim50: $EDC Close Date=Oct-17-2014 Open=25.04 High=25.56 http://t.co/ezFovavwTy
Investors Hangout
20 Oct 14 09:07:18
jim50: $EDC Close Date=Oct-17-2014 Open=25.04 High=25.56 http://t.co/zpOWQQIu50
OTPicks.com
20 Oct 14 08:56:59
http://t.co/hjgLwIcNgz jim50: $EDC Close Date=Oct-17-2014 Open=25.04 High=25.56: jim50 http://t.co/Pgl0sq47y9 http://t.co/hjgLwIcNgz
jim50
20 Oct 14 08:49:15
$EDC Close Date=Oct-17-2014 Open=25.04 High=25.56 Low=24.66 Close=25.03 Volume=2116900 http://t.co/KBXaYYlnfh
lookn4wins
20 Oct 14 08:19:08
$PBR Candlesticks $PBR Most recent stock chart and technical analysis. $LGND $SDS $NLN.TO $GDXJ $IBM $EDC http http://t.co/x2alMKbmlI
Investors Hangout
20 Oct 14 07:34:42
DennyT: DARA Cash Flow $DARA $YGE $NCR $VTI $EDC http://t.co/AawrfkxbuX
Investors Hangout
20 Oct 14 07:34:40
DennyT: DARA Cash Flow $DARA $YGE $NCR $VTI $EDC http://t.co/xcwxGBOxuC
DennyT
20 Oct 14 07:10:11
DARA Cash Flow $DARA $YGE $NCR $VTI $EDC Opinion,50 Simple Moving Average,Close,Recent News,Showing on my stre http://t.co/60VN6Vb9Vd
leahanne
20 Oct 14 06:50:34
$SIMH Sanomedics Intl Hldg (SIMH) 0.1095 +0.0115 (+11.73%) $C $EDC $KO http://t.co/tozfNhVggx
Harish Kapoor
20 Oct 14 06:07:35
Booked some profit $EDC
4-traders.com
19 Oct 14 20:40:02
Energy Development : Secures $315 Million Financing For Wind Project http://t.co/eIFlnurnZD $EDC $NSBK
danny sy
19 Oct 14 20:06:25
RT @firstmetrosec: $EDC: Got $315M worth of financing for for the construction of the 150-MW Burgos Wind Project (BWP) in Ilocos Norte.
Jesse
19 Oct 14 19:43:31
RT @Philstocks_ACEC: $EDC wins seven power projects from DOE
First Metro Sec
19 Oct 14 19:39:40
$EDC: Got $315M worth of financing for for the construction of the 150-MW Burgos Wind Project (BWP) in Ilocos Norte.
Jesse
19 Oct 14 19:35:50
RT @firstmetrosec: A Chart A Day: $EDC http://t.co/dil85Whmzl
Philstocks.ph
19 Oct 14 18:07:52
$EDC wins seven power projects from DOE
				
				
  +Follow August 21, 2013 11:56AM
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