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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India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations.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
Chynna Lemi
18 Dec 14 19:36:09
RT @harleywong: $EDC new all time high! #trendfollowing
Harley Wong
18 Dec 14 17:44:35
$EDC new all time high! #trendfollowing
iHangout
18 Dec 14 17:37:55
chartguy89: 2014 Trending Stocks: EDC +0.07% Stock Charts $EDC Consolidated Edison http://t.co/vxB4MkzDme
chartguy89
18 Dec 14 17:34:38
EDC +0.07% Stock Charts $EDC Consolidated Edison Inc. (FRA) Last Updated: 12/18/2014 19:34:39 EDC Stock Chart http://t.co/p1xgTqWvUo
smart-ticker.com
18 Dec 14 13:42:48
Market close top stocks bull trade ideas: $PTRY $RUSS $MBT $RPTP $EXAM $CIB $ORCL $ACN $EDC $UEPS
chch
18 Dec 14 08:49:28
Será el inicio del delicioso rally navideño, mantenla posicione den $edc $rassini $amxl $gfnorte $walmex y $bachoco
MarketCurrents
18 Dec 14 07:53:17
Deutsche not buying emerging markets rally http://t.co/0mByRtYk2I $EEM $VWO $EDC $EDZ
Jet Mojica
17 Dec 14 19:25:49
$EDC is going back to below 7.00, with luck. Be sure this is on your radar for bottom picking. Should go to 10.00 in 2015.
Charles Lim
17 Dec 14 18:49:45
RT @genkumag: $EDC you should really sell.
Jet Mojica
17 Dec 14 18:48:42
$EDC you should really sell.
DailyStockPicks
17 Dec 14 14:13:06
$ECIG buyout target of $0.50. 400% upside. Positive EBITDA and $200MM revenue in 2015 $RSH $LULU $EDC traders read: http://t.co/xi3978GuDs
The Cardiac Kid
17 Dec 14 13:24:55
ospreyeye: Exactly - sweet trading ETF's - $EDC /$EDZ: ospreyeye http://t.co/KUDcgcNZad
Zen Trader Mx
17 Dec 14 11:11:33
Más que excelente volúmen entrando a $EDC en mex.
Iván Santiago
17 Dec 14 10:22:26
$EDC +5.09%
Eugenio
17 Dec 14 09:42:45
Abrimos largo de $EDC objetivo $330 o hasta donde llegue #SIC $BMV
BacardiTrader
17 Dec 14 07:22:54
Estabamos entre comprar $Alfa en 32.# y $EDC en 301 compramos Alfa.... a ver cual opcion salio mejor en los proximos dias....
BacardiTrader
17 Dec 14 07:11:12
$EDC respeto su soporte de LP de $280 pesos y rebota cotiza en 300 pesos !!! +7% en 2 dias !
Large Void Bot
17 Dec 14 06:59:11
Daily Reversal (09:59): $EDC Last: 20.54; pHigh: 20.53; rVol: 1.022; pClose: 19.54; LOD: 19.5800; Perf: 5.1%
Eugenio
16 Dec 14 16:27:27
Mañana seguiremos $EDC $EWZ $ANGEL $NAFTRAC $SMARTRAC $BMV para ver si abrimos largos
ريم محمد أسعد
16 Dec 14 11:15:45
RT @SeekingAlpha: The Saudi Oil War Means Structural Sea Change; Risk-Off Turmoil Fuels Long Bond Strength http://t.co/kArWerV2ve $EDC $RIO…
Alysia Sarkisian
16 Dec 14 11:13:49
RT @SeekingAlpha: The Saudi Oil War Means Structural Sea Change; Risk-Off Turmoil Fuels Long Bond Strength http://t.co/kArWerV2ve $EDC $RIO…
Seeking Alpha
16 Dec 14 11:07:35
The Saudi Oil War Means Structural Sea Change; Risk-Off Turmoil Fuels Long Bond Strength http://t.co/kArWerV2ve $EDC $RIO $TBT $TLT
The Cardiac Kid
16 Dec 14 09:14:43
ospreyeye: $EDC - Emerging Markets Bull 3X heating up -: ospreyeye http://t.co/Ee6ZI3oRH2
Iván Santiago
16 Dec 14 08:02:52
Por fin verde $EDC iba perdiendo hasta la camisa a inicios de la sesión..
BacardiTrader
16 Dec 14 06:39:51
$EDC en pesos en niveles de soporte de los ultimos 5 años, no es recomendacion de compra #FTR1
Investors Hangout
15 Dec 14 10:36:35
chartguy89: IYR Stock Chart $IYR $QID $HVU.TO $EDC http://t.co/ox4Y71oRYF
Investors Hangout
15 Dec 14 10:36:35
chartguy89: IYR Stock Chart $IYR $QID $HVU.TO $EDC http://t.co/8lnZWbrLYK
chartguy89
15 Dec 14 10:12:29
IYR Stock Chart $IYR $QID $HVU.TO $EDC http://t.co/3vUo3LaFWl http://t.co/rBoYN0B4as
Etos Etana
15 Dec 14 09:58:09
RT @iHangout: chartguy89: Stock Charts: TZA Stock Chart $TZA $BABA $T $EDC http://t.co/lXefJtteNI
Investors Hangout
15 Dec 14 09:11:48
clayton: $EDC 20.57 http://t.co/ULHgYqw8LZ
Investors Hangout
15 Dec 14 09:11:48
clayton: $EDC 20.57 http://t.co/PPlO552YSd
clayton
15 Dec 14 08:43:40
$EDC 20.57 http://t.co/W3SybMyBHt
iHangout
15 Dec 14 08:42:17
chartguy89: Stock Charts: TZA Stock Chart $TZA $BABA $T $EDC http://t.co/lXefJtteNI
Large Void Bot
15 Dec 14 08:38:13
New 52wk Lows: $EDC
chartguy89
15 Dec 14 08:36:02
TZA Stock Chart $TZA $BABA $T $EDC http://t.co/19eGefqZ6t http://t.co/cK35boOPym
Investors Hangout
15 Dec 14 08:29:40
Stock_Tracker: $EDC Recent Headlines Emerging Markets At 5 Year http://t.co/DWIZlYZn8B
Investors Hangout
15 Dec 14 08:29:40
Stock_Tracker: $EDC Recent Headlines Emerging Markets At 5 Year http://t.co/CjRyOTgdWM
Stock_Tracker
15 Dec 14 08:23:18
$EDC Recent Headlines Emerging Markets At 5 Year Lows Are A Blue-Light Special 3:48 p.m. Dec. 12, 2014 - Seeki http://t.co/3iCho2cVuk
BacardiTrader
15 Dec 14 07:42:36
parece zona de guerra el IPC $Creal -6.28 $EDC-6.09 $Cultiba-5.14 $Cemex -4.85 $Gruma-4.44, $Ara -4.36 $Mega -4.12 $Sanmex -3.81 $Alfa -3.84
Maxine Qua
14 Dec 14 18:16:47
What a swing by $edc from 8.19 to 8.49
Aman Pizarro
14 Dec 14 17:23:56
RT @iamichimoku: $EDC may push up to 9.35 should 8.31 hold as support.
Ichi Moku
14 Dec 14 11:10:27
$EDC may push up to 9.35 should 8.31 hold as support.
Juan Trader
13 Dec 14 02:12:13
$EDC http://t.co/W59bnRcFL8
Diego Palencia
12 Dec 14 13:04:05
RT @SeekingAlpha: Emerging Markets At 5 Year Lows Are A Blue-Light Special http://t.co/R2i2Plaxqk $EDC
awolam
12 Dec 14 12:49:58
RT @SeekingAlpha: Emerging Markets At 5 Year Lows Are A Blue-Light Special http://t.co/R2i2Plaxqk $EDC
Seeking Alpha
12 Dec 14 12:49:03
Emerging Markets At 5 Year Lows Are A Blue-Light Special http://t.co/R2i2Plaxqk $EDC
8
12 Dec 14 09:53:53
$EEM -1.03% $EDZ +2.99% $EDC -2.96%
TacticalTrader
11 Dec 14 18:48:28
RT @harleywong: $EDC new 52wk high. #trendfollowing #psei
Harley Wong
11 Dec 14 18:48:07
$EDC new 52wk high. #trendfollowing #psei
Maxine Qua
11 Dec 14 18:47:29
RT @wealthsec: $EDC NEW ALL-TIME HIGH
				
				
  +Follow August 21, 2013 11:56AM
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