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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India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations.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
Trader Kuno
30 Jan 15 19:13:29
RT @wealthsec: $EDC World Class Renewable Energy in the Philippines #renewableenergy #cleanenergy http://t.co/OZmqvHXmGn
harbingerdeath
30 Jan 15 18:33:59
RT @wealthsec: $EDC World Class Renewable Energy in the Philippines #renewableenergy #cleanenergy http://t.co/OZmqvHXmGn
policyngeco
30 Jan 15 18:30:51
RT @wealthsec: $EDC World Class Renewable Energy in the Philippines #renewableenergy #cleanenergy http://t.co/OZmqvHXmGn
Aman Pizarro
30 Jan 15 18:30:40
RT @wealthsec: $EDC World Class Renewable Energy in the Philippines #renewableenergy #cleanenergy http://t.co/OZmqvHXmGn
wealthsec
30 Jan 15 18:29:13
$EDC World Class Renewable Energy in the Philippines #renewableenergy #cleanenergy http://t.co/OZmqvHXmGn
Stock Trade Alerts
30 Jan 15 08:50:13
SHORT Seller Alert $EDC - DIREXION DAILY EMERGING MARKETS BULL #ShortSeller #Stocks ~ via #AlertTrade
PolgarStocks
29 Jan 15 14:31:40
$TQQQ Short Sales Updated Thursday, January 29, 2015 5:07:33 PM $EDC $SCO $GFI $ERY http://t.co/hyrszQuI1E
Rosner Stocks
29 Jan 15 14:31:40
$NUGT Recent News Updated Thursday, January 29, 2015 4:59:26 PM $T $UPS $EDC $V http://t.co/xhYIvxRbJs
Langan Stocks
29 Jan 15 14:17:08
$FXE Stock Forum Updated Thursday, January 29, 2015 5:03:29 PM $SBUX $PFE $XLB $EDC http://t.co/V5NV4nMgLc
Langan Stocks
29 Jan 15 13:16:47
$RSX Reviews Updated Thursday, January 29, 2015 4:03:29 PM $EDC $VALE $GDX $IBB http://t.co/9zHzsVyKYZ
Langan Stocks
29 Jan 15 13:16:46
$SMN Short Sales Updated Thursday, January 29, 2015 4:03:29 PM $EEM $EDC $OIL $UPRO http://t.co/IhzAejvcJV
Langan Stocks
29 Jan 15 13:16:40
$ECIG Reviews Updated Thursday, January 29, 2015 4:03:29 PM $TBT $UPRO $EDC $MMM http://t.co/3MXK0MvsuK
Langan Stocks
29 Jan 15 10:14:13
$IBB Stock Price Updated Thursday, January 29, 2015 1:03:30 PM $XLK $EDC $AXP $MYEC http://t.co/BdJVc1WKIX
Langan Stocks
29 Jan 15 09:13:38
$OIL Last Price Updated Thursday, January 29, 2015 12:03:30 PM $XLB $MOS $CFR $EDC http://t.co/qQhvNkNWgG
IH News Desk
29 Jan 15 07:27:11
$EDC Company Info Updated Thursday, January 29, 2015 10:11:35 AM $IWM $TQQQ $IWC $SLW http://t.co/Z0jtIKjU3O
Langan Stocks
29 Jan 15 05:09:38
$EBAY News Updated Thursday, January 29, 2015 08:03:27 AM $CEF $USO $BIB $EDC http://t.co/7G76tgtM63
IH News Desk
29 Jan 15 04:25:36
$EDC Company Info Updated Thursday, January 29, 2015 07:11:34 AM $GDXJ $EWH $INTC $EWZ http://t.co/wTElsRFCoZ
Rosner Stocks
29 Jan 15 03:21:12
$VTI Company Info Updated Thursday, January 29, 2015 05:59:23 AM $TQQQ $EDC $IYR $DPZ http://t.co/wQS5m5HWmi
Langan Stocks
29 Jan 15 03:09:19
$ARNA Company Info Updated Thursday, January 29, 2015 06:03:26 AM $BABA $EDC $HON $GDXJ http://t.co/NgWcXuDZDm
Langan Stocks
29 Jan 15 03:09:15
$SSO News Updated Thursday, January 29, 2015 06:03:26 AM $EDC $GOLD $IWC $GLD http://t.co/8zZCLVGgtQ
PolgarStocks
29 Jan 15 02:20:17
$EDC Investor Opinions Updated Thursday, January 29, 2015 05:07:28 AM $HAL $X $TQQQ $BP http://t.co/xLUPPELJW9
Langan Stocks
29 Jan 15 02:08:11
$ITB Filings Updated Thursday, January 29, 2015 05:03:25 AM $XLI $PFE $EDC $UPRO http://t.co/ZK8hLXfbK8
Rosner Stocks
29 Jan 15 01:19:11
$SMH Recent News Updated Thursday, January 29, 2015 03:59:26 AM $TASR $BMY $EDC $TZA http://t.co/rDftl7Z2Vu
Company Disclosures
26 Jan 15 17:00:01
$EDC: Change in Directors and/or Officers (Resignation, Removal or Appointment, Election... #PseDisclosure http://t.co/DbOi591NqX
karate trader
26 Jan 15 02:06:13
@pizza_trader sir. do you expect $EDC to break the recent highs?
Pizza Trader
25 Jan 15 19:22:26
The bids on $EDC are getting heavier. October trend line is still intact.
PolgarStocks
23 Jan 15 14:39:16
$EDC News Updated Friday, January 23, 2015 5:06:25 PM $RAD $CTIX $PCLN $ARWR http://t.co/tUZSELvoJu
Langan Stocks
23 Jan 15 13:25:07
$C News Updated Friday, January 23, 2015 4:02:52 PM $GG $EDC $BMY $TPI http://t.co/gVfZAggdat
PolgarStocks
23 Jan 15 12:37:46
$IMSC Last Price Updated Friday, January 23, 2015 3:06:25 PM $CNET $CNET $EDC $EWY http://t.co/u66eJfS7Ze
PolgarStocks
23 Jan 15 12:37:40
$AXP Recent News Updated Friday, January 23, 2015 3:06:25 PM $CAT $EDC $GG $V http://t.co/gUUPZcf4fj
Ichi Moku
23 Jan 15 11:52:00
$EDC...observe 8.37 if it will be tested again as support up to 8.31. It it gives in to the pressure, 7.9 and 7.6 would be next in line.
IH News Desk
23 Jan 15 09:04:42
$SU Stock Price Updated Friday, January 23, 2015 11:09:57 AM $UNG $SNMX $EDC $XRT http://t.co/7KkmWIOIaf
Langan Stocks
23 Jan 15 08:12:12
$QLTS Last Price Updated Friday, January 23, 2015 11:02:57 AM $EDC $UGAZ $SSO $IWM http://t.co/WYYrUKFUJI
IH News Desk
23 Jan 15 08:04:24
$ADXS Filings Updated Friday, January 23, 2015 10:09:58 AM $ACT $PPCH $EDC $HYG http://t.co/VLIaE8yo3v
				
				
  +Follow August 21, 2013 11:56AM
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