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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India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations.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
Karlo Bonifacio
22 Apr 14 23:17:53
@Technimentalist haha! oo nga. mabagal itong $EDC
Karlo Bonifacio
22 Apr 14 23:10:44
cut loss $EDC :)
Keon Carlisle
22 Apr 14 17:52:15
$EDC Emerging Markets: The Rally Is Over http://t.co/AvQDrbxnwT
Dahlia Archuleta
22 Apr 14 17:28:01
$EDC Emerging Markets: The Rally Is Over http://t.co/R0SqQOJz8a
Jonathan Berlin
21 Apr 14 19:09:44
RT @SeekingAlpha: Emerging Markets: The Rally Is Over http://t.co/szHajfEV46 $SPY $EEM $VWO $EDC $EDZ $SCHE $IEMG $EEV $PIE $ADRE $EUM $EET…
Brenden Black
21 Apr 14 11:45:08
$EDC Emerging Markets: The Rally Is Over http://t.co/eN812YsvfW
Juan Carlos Minero A
21 Apr 14 09:38:34
$edc $edz esos volúmenes que ya sabemos #FTR1 http://t.co/ctz7o1hLSi
Karlo Bonifacio
20 Apr 14 23:36:18
$EDC kailangan mo na din sumabay. galaw galaw
Juan Carlos Minero A
20 Apr 14 15:32:59
#FTR1 estar atentos a la especulación en torno a brasil $EDC $EDZ SOBRE TODO POSICIONES DE #sic Por que los spreads darán oportunidades
Scott Gillespie
19 Apr 14 22:12:05
RT @SeekingAlpha: Emerging Markets: The Rally Is Over http://t.co/szHajfEV46 $SPY $EEM $VWO $EDC $EDZ $SCHE $IEMG $EEV $PIE $ADRE $EUM $EET…
Seeking Alpha
19 Apr 14 22:06:52
Emerging Markets: The Rally Is Over http://t.co/szHajfEV46 $SPY $EEM $VWO $EDC $EDZ $SCHE $IEMG $EEV $PIE $ADRE $EUM $EET $GMM $TLO $EEME
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 Mathis
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
				
				
  +Follow August 21, 2013 11:56AM
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