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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India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations.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)

Results for EDC
chartguy89
17 Apr 14 23:05:55
EDC 40.601 Stock Charts $EDC Consolidated Edison Inc. (FRA) EDC Stock Chart - 1 Month http://bigcharts.marketw http://t.co/w1OMeJeTK8
Zackery Jaxon
17 Apr 14 03:19:45
$EDC As Demand Improves, Ti http://t.co/nsCZqnzl6Y
seekthet
17 Apr 14 02:30:53
RT @SeekingAlpha: EM Tail-Risks Are Rising http://t.co/wwJXWWo0tt $SPY $QQQ $DIA $EEM $VWO $RSX $EDC $EDZ $GXC $SCHE $IEMG $EEV $PIE $ADRE …
Seeking Alpha
17 Apr 14 01:39:00
EM Tail-Risks Are Rising http://t.co/wwJXWWo0tt $SPY $QQQ $DIA $EEM $VWO $RSX $EDC $EDZ $GXC $SCHE $IEMG $EEV $PIE $ADRE $EUM $YAO $EET
REDRASHID EL AMIN
16 Apr 14 19:04:14
RT @CBOE: Gamma of Volatility Gets Pasted For Now $EDC #EWZ #VIX #VXX http://t.co/XQt6KHj7pP
Opal Mathissve
16 Apr 14 18:42:23
$EDC Emerging Markets, Should T http://t.co/mPDSR2Qybm
Seeking Alpha
16 Apr 14 15:27:06
2 Major Players Graduate From MSCI FM 100: Is It Still Worth Tuning Into? http://t.co/iI0RS13uzX $EEM $VWO $EDC $FM $EDZ $SCHE $IEMG $FRN
Zen Trader Mx
16 Apr 14 06:36:19
@JuanCMinero compañero, el $Nikkei es Japón. Ni de lejos es emergente ni esta en $EDZ $EDC $EEM. Saludos.
Pike Gall
15 Apr 14 20:40:28
$EDC As Demand Improves, Ti http://t.co/LgrwXQkPln
Meretseger®ﺃﺭﻣﻴ
15 Apr 14 17:20:19
RT @CBOE: Gamma of Volatility Gets Pasted For Now $EDC #EWZ #VIX #VXX http://t.co/XQt6KHj7pP
Ajit Singh
15 Apr 14 15:55:58
RT @CBOE: Gamma of Volatility Gets Pasted For Now $EDC #EWZ #VIX #VXX http://t.co/XQt6KHj7pP
DK
15 Apr 14 15:39:32
RT @CBOE: Gamma of Volatility Gets Pasted For Now $EDC #EWZ #VIX #VXX http://t.co/XQt6KHj7pP
CBOE
15 Apr 14 15:37:47
Gamma of Volatility Gets Pasted For Now $EDC #EWZ #VIX #VXX http://t.co/XQt6KHj7pP
Gerardo Rico
15 Apr 14 11:31:20
$edc para un rebotin.. pero sigue débil el mercado y por supuesto muy caro
Chart Freak
15 Apr 14 09:28:32
$EEM $SPY $$EDZ $EDC $IWM $NDX Needs more time to flush Sellers I.M.O. http://t.co/iVpY8OTJK9
Pug Trader
15 Apr 14 09:10:02
Pug why so happy? $EDC $RUSS #TRADEASNEVERBEFORE http://t.co/5JFWgzl3bB
Pug Trader
15 Apr 14 00:35:04
RT @ZenTraderMx: ¿A poco siguen largos $EEM $EDC? http://t.co/IbCVCSKDMQ
Lars Kingston
14 Apr 14 15:57:55
$EDC The Turnaround In Eme http://t.co/A1n3TsYB0S
Max Power
14 Apr 14 12:09:36
RT @ZenTraderMx: ¿A poco siguen largos $EEM $EDC? http://t.co/IbCVCSKDMQ
Zen Trader Mx
14 Apr 14 12:06:53
¿A poco siguen largos $EEM $EDC? http://t.co/IbCVCSKDMQ
Crew Daily
14 Apr 14 11:08:16
$EDC As Demand Improves, Ti http://t.co/rem7Iq1oPb
Patty Porter
14 Apr 14 10:41:15
$EDC The Turnaround In Eme http://t.co/rC6qBnkZqq
Louie O'Malley
13 Apr 14 13:48:54
$EDC As Demand Improves, Ti http://t.co/TwMdKIW8es
FundamentalistTrader
12 Apr 14 11:39:32
Stocks in Subjects: $CIC, $CPG, $EDC and $TA http://t.co/Kl447tjuIW
FundamentalistTrader
11 Apr 14 19:30:55
NFB: $NIKL, $SCC, $TEL, $GLO, $SMC, $SM, $MPI, $LTG, $AEV, $AC, $URC, $PIP, $PF, $GSMI, $DNL, $MWC, $FGEN, $EDC, $AP http://t.co/Nt8H4tBZnE
				
				
  +Follow August 21, 2013 11:56AM
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