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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India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations.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
Drako Trading
22 Aug 14 06:09:52
En Observación : $CX $EDC $EDZ $GMK $GOOGL $TV $TWTR $VLRS #drakotips Informes : drakotips@gmail.com #FTR1
Chinita Trader
21 Aug 14 21:36:36
RT @harleywong: new 52wk highs so far $IMI $EDC $FGEN $AC $GLO #psei
bigblaster stocks
21 Aug 14 19:34:06
RT @leahanneta: $EDC Emrg Mkts Bull 3X Direxion (EDC) 34.33 -0.24 (-0.69%) $EBAY $KNDI $EVSV http://t.co/SXdOJ6QPA6
shee tan
21 Aug 14 19:21:40
RT @harleywong: new 52wk highs so far $IMI $EDC $FGEN $AC $GLO #psei
Aman P.
21 Aug 14 19:11:35
RT @Ljadperez10: $EDC lol again!
Leo James Perez
21 Aug 14 19:08:49
$EDC lol again!
Aman P.
21 Aug 14 18:54:41
RT @harleywong: new 52wk highs so far $IMI $EDC $FGEN $AC $GLO #psei
Charles Lim
21 Aug 14 18:53:22
di siguro masama maglock in ng $EDC ng onti
Harley Wong
21 Aug 14 18:51:43
new 52wk highs so far $IMI $EDC $FGEN $AC $GLO #psei
Rectitude Market
21 Aug 14 14:59:39
Existing Stop of 34.3 for $EDC (Emerging Markets bull) breached today. Trade closed with a 10.1% profit http://t.co/wsgcTkE0yT
Investors Hangout
21 Aug 14 10:51:13
DennyT: WUBA Major Holders $WUBA $ACTC $UNG $ACHN $EDC http://t.co/YwePXrp4yv
Investors Hangout
21 Aug 14 10:51:09
DennyT: WUBA Major Holders $WUBA $ACTC $UNG $ACHN $EDC http://t.co/Y9DVP29Ln8
lookn4wins
21 Aug 14 08:33:06
$BIIB Current Price $BIIB Most recent stock chart and technical analysis. $GNCP $ACTC $EDC $UAL $AMBS $F http: http://t.co/Vk2HMktF0v
Investors Hangout
21 Aug 14 08:16:05
leahanne: $EDC Emrg Mkts Bull 3X Direxion (EDC) 34.33 -0.24 http://t.co/lTepPvGPlR
Investors Hangout
21 Aug 14 08:16:01
leahanne: $EDC Emrg Mkts Bull 3X Direxion (EDC) 34.33 -0.24 http://t.co/ctiRvXs1JA
leahanne
21 Aug 14 08:14:59
$EDC Emrg Mkts Bull 3X Direxion (EDC) 34.33 -0.24 (-0.69%) $EBAY $KNDI $EVSV http://t.co/SXdOJ6QPA6
MarketCurrents
21 Aug 14 07:52:34
Norway's SWF slows move into emerging markets http://t.co/buxmQFqLg5 $EEM $VWO $EDC $EDZ
Rectitude Market
21 Aug 14 03:12:43
2014 Closed (several trades): +165% ... Open: $TNA +10.5% $FAS +8.7% $UDOW +9.2% $SPXL +9.3% $TQQQ +13.6% $EDC +11.0% http://t.co/CvMpdUN2Zd
Rectitude Market
20 Aug 14 14:05:38
2014 Closed (several trades): +165% ... Open: $TNA +10.5% $FAS +8.7% $UDOW +9.2% $SPXL +9.3% $TQQQ +13.6% $EDC +11.0% http://t.co/QZmPLtg7gt
Drako Trading
20 Aug 14 10:24:58
Movimientos del Día de Hoy : $AMX $C $EDC $EDZ $IWM $RUT $TWM #DKTD #FTR1
Frodo
20 Aug 14 00:29:03
RT @harleywong: $EDC $FGEN $AC $ALI $GLOBE new leaders. new 52wk high. #psei
JBelimac
20 Aug 14 00:13:41
People are just rushing in to buy $EDC when I'm about to sell... :)
ZEN
20 Aug 14 00:00:26
RT @wealthsec: $EDC Bacman Returns? or Bacman Forever?
Djezi
19 Aug 14 23:52:45
RT @wealthsec: $EDC Bacman Returns? or Bacman Forever?
Aman P.
19 Aug 14 23:49:26
RT @harleywong: $EDC $FGEN $AC $ALI $GLOBE new leaders. new 52wk high. #psei
Harley Wong
19 Aug 14 23:48:02
$EDC $FGEN $AC $ALI $GLOBE new leaders. new 52wk high. #psei
❄️©Ice Fernandez™ ❄️
19 Aug 14 23:47:48
Wow $EDC posting 5.19% day gain just for today,,, sabi ko na maganda pakiramdam ko sa stock na ito nung una pa lang eh!!!
Aman P.
19 Aug 14 23:47:37
RT @wealthsec: $EDC Bacman Returns? or Bacman Forever?
Marc Guevara
19 Aug 14 23:45:05
RT @wealthsec: $EDC Bacman Returns? or Bacman Forever?
wealthsec
19 Aug 14 23:44:40
$EDC Bacman Returns? or Bacman Forever?
Aman P.
19 Aug 14 23:29:34
RT @marcguevara13: Whoa $EDC
Marc Guevara
19 Aug 14 23:27:44
Whoa $EDC
Aman P.
19 Aug 14 22:04:34
RT @Ljadperez10: lol $EDC :)
Leo James Perez
19 Aug 14 18:52:10
lol $EDC :)
Rectitude Market
19 Aug 14 14:05:40
2014 Closed (several trades): +165% ... Open: $TNA +11.7% $FAS +7.7% $UDOW +7.9% $SPXL +8.4% $TQQQ +13.6% $EDC +11.7% http://t.co/EvVQBiX2XH
elbisnesman
19 Aug 14 08:59:23
Saliendo ya tambien de $EDC con un +4% y haciendo cash por si mr. Market me quiere poner una buena ganga
Frodo
19 Aug 14 00:52:14
RT @harleywong: $AT $EDC $FGEN new 52wk high #psei
Marc Guevara
18 Aug 14 23:43:11
RT @harleywong: $AT $EDC $FGEN new 52wk high #psei
Harley Wong
18 Aug 14 23:41:08
$AT $EDC $FGEN new 52wk high #psei
Cesar
18 Aug 14 14:18:36
Valuing non became politically debt negotiations fail $ggal $bma $ypf $spy $iwm $eem $ewz $eww $edc $dia $jpm $gs $c http://t.co/v9sTe3IVBb
Rectitude Market
18 Aug 14 14:10:40
2014 Closed (several trades):+165% Open: $TNA +10.7% $FAS +7.1%, $UDOW +6.3%, $SPXL +6.7%, $TQQQ +11.6%, $EDC +10.1% http://t.co/MoHgeyEAHA
Duke Speaks
18 Aug 14 11:51:04
RT @ivan_sanbal: Rendimiento acumulados en el año $EDC +20.86% $EDZ -31.55%, esta clara la tendencia o no?
Iván Santiago
18 Aug 14 11:48:12
Rendimiento acumulados en el año $EDC +20.86% $EDZ -31.55%, esta clara la tendencia o no?
Iván Santiago
18 Aug 14 09:10:17
$FAS +2.91% $EDC +1.82% $EWZ +.44%
Aman P.
17 Aug 14 20:02:27
RT @harleywong: $EDC new 52wk high #psei
Charles Lim
17 Aug 14 19:55:06
breakout $EDC papeng
Harley Wong
17 Aug 14 19:48:19
$EDC new 52wk high #psei
OTPicks.com
17 Aug 14 16:36:41
http://t.co/QzFp1WC0ss danrocks: $EDC Getting Interesting $AMZN $PLFMX $CELG $IJH: danrocks http://t.co/AxMDiSKxYv http://t.co/QzFp1WC0ss
Investors Hangout
17 Aug 14 09:52:12
danrocks: $EDC Getting Interesting $AMZN $PLFMX $CELG $IJH http://t.co/oeUuJGXQPb
Investors Hangout
17 Aug 14 09:52:05
danrocks: $EDC Getting Interesting $AMZN $PLFMX $CELG $IJH http://t.co/B39gaJkuHg
				
				
  +Follow August 21, 2013 11:56AM
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