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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India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations.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
monestsignalen
30 Sep 14 05:50:03
http://t.co/ArbBp8hltn large player signalen op volgende #aandelen $DANG $KMI.W $EDC
Philstocks.ph
30 Sep 14 01:19:17
$EDC Bacman Plants restore by 2015
TurtleTrend
29 Sep 14 23:09:26
@LEVfundmanager @tan2sy @astan_168 @kendrickt @nandeshka @harleywong @maxinequa The more we don't understand, the better! $psei $fgen $edc
Marc Guevara
29 Sep 14 22:47:22
Whoa 8! $EDC
Warren de Guzman
29 Sep 14 19:34:56
$EDC disclosure on Bacman: http://t.co/yRCXofcMK2
Warren de Guzman
29 Sep 14 19:34:09
$EDC Bacman Plant update: Unit 2 New Toshiba Steam Turbine installed. Unit 1 & 2 running at 55mw each. Unit 3 reliability test complete.
Company Disclosures
29 Sep 14 19:20:01
$EDC: Clarification of News Reports #PseDisclosure http://t.co/fJT68TxYpf
Aman Sotto Pizarro
29 Sep 14 19:00:02
RT @harleywong: $EDC new all time high
Harley Wong
29 Sep 14 18:47:15
$EDC new all time high
Operation Knowledge
29 Sep 14 18:43:15
RT @Philstocks_ACEC: $EDC opens Nasulo geothermal plant in Negros
Philstocks.ph
29 Sep 14 18:37:50
$EDC Inauguration of the 49.4 MW Nasulo Power Plant in Negros Oriental
Philstocks.ph
29 Sep 14 18:35:45
$EDC opens Nasulo geothermal plant in Negros
Operation Knowledge
29 Sep 14 18:35:42
RT @firstmetrosec: $EDC :Aiming to hit full capacity of 130MW for Bacon-Manito geothermal power plants by next year from present capacity o…
First Metro Sec
29 Sep 14 18:25:25
$EDC :Aiming to hit full capacity of 130MW for Bacon-Manito geothermal power plants by next year from present capacity of 73MW
danny sy
29 Sep 14 15:37:01
RT @firstmetrosec: $EDC: Boosted its Visayas capacity with a 49 MW power plant.
keith b
29 Sep 14 12:06:53
i guess i was way too early on $edc. not good.
Investors Hangout
29 Sep 14 11:07:52
leahanne: $MAT Mattel Inc (MAT) 30.54 -0.27 (-0.88%) $EDC http://t.co/0jhmxUhypq
Investors Hangout
29 Sep 14 11:07:46
leahanne: $MAT Mattel Inc (MAT) 30.54 -0.27 (-0.88%) $EDC http://t.co/a9LUjy57KK
leahanne
29 Sep 14 10:46:54
$MAT Mattel Inc (MAT) 30.54 -0.27 (-0.88%) $EDC $AUY $JNUG http://t.co/G3QY4zumKZ
Jake13
29 Sep 14 10:00:48
$F Buy? Click here to find out if $F is a buy hold or sell. Watching these stocks. $ARIA $EDC $MUX $AAPL http: http://t.co/eNuqlqIai2
clayton
29 Sep 14 09:40:23
$EDC 28.58 http://t.co/4RWPA0EVYS
Fake CNBC
29 Sep 14 09:31:49
Dumped my longs from the open $EDC.Still holding $BP 50% position from Friday 44.12. I also bought some $CREE near the top 41.66 (1.25 stop)
Jake13
29 Sep 14 09:23:40
$SPXS Sell? Click here to find out if $SPXS is a buy hold or sell. Watching these stocks. $EDC $MU $DO $UGAZ h http://t.co/CoPixxqYaB
Kos
29 Sep 14 09:05:23
RT @StockBuz: New trading rules out > "China On Margin; Oh My" on StockBuz: http://t.co/PQLWwcFSgq $FXI $EDC
iHangout
29 Sep 14 09:03:17
http://t.co/vVojvVrNNL DennyT: The Hunt for the Next 10 Bagger: GLUU Bloomberg $GLUU $GS $V $EDC $KNDI Opinion http://t.co/mD6B2FgEsO
Investors Hangout
29 Sep 14 09:02:20
DennyT: GLUU Bloomberg $GLUU $GS $V $EDC $KNDI Opinion http://t.co/xR8HHjzRrE
Investors Hangout
29 Sep 14 09:02:19
DennyT: GLUU Bloomberg $GLUU $GS $V $EDC $KNDI Opinion http://t.co/NjRqCdSPd0
DennyT
29 Sep 14 08:59:39
GLUU Bloomberg $GLUU $GS $V $EDC $KNDI Opinion Today,Daily Chart,Stock,Recent News,Getting Interesting Stock Q http://t.co/TW8hf3EUur
Investors Hangout
29 Sep 14 08:43:54
danrocks: $PANW On Watch $PBR $EDC $SLB $AMZN $JRJC http://t.co/XEiNRfua0Y
Investors Hangout
29 Sep 14 08:43:49
danrocks: $TQQQ Alert $BBRY $DXJ $SSO $EDC $ECYT http://t.co/HdfeUP72zP
Investors Hangout
29 Sep 14 08:43:24
danrocks: $PANW On Watch $PBR $EDC $SLB $AMZN $JRJC http://t.co/SJKOXm810Z
Investors Hangout
29 Sep 14 08:43:21
danrocks: $TQQQ Alert $BBRY $DXJ $SSO $EDC $ECYT http://t.co/R8enASovqM
danrocks
29 Sep 14 08:32:23
$PANW On Watch $PBR $EDC $SLB $AMZN $JRJC http://t.co/SoHjX34bjO
Richard
29 Sep 14 08:24:06
$EDC intraday por si el rebote
danrocks
29 Sep 14 08:09:12
$TQQQ Alert $BBRY $DXJ $SSO $EDC $ECYT http://t.co/hf6coUsVhe
Solo traders
29 Sep 14 08:02:05
$EDC - Buy On The Dip Prospects: September 29th Edition http://t.co/vZ2jdR9FEr
MexTrader
29 Sep 14 07:57:37
@BacardiTrader si ya vi que le están poniendo una putiza a los $EEM . Ta cabron pa los que abrieron $EDC
Li Chang, CFP®
29 Sep 14 07:53:39
RT @ETFdb: $EEM sinks right through 200day SMA -- $EDC off by more than 6%
Fake CNBC
29 Sep 14 07:07:16
$EEM opened -10% off the recent highs. Feels like a good place to take a shot at $EDC.
Investors Hangout
29 Sep 14 07:05:15
chartguy89: EDC Stock Chart $EDC $LVS $AEM $RIG http://t.co/6NfSxvwXA1
Investors Hangout
29 Sep 14 07:05:15
chartguy89: EDC Stock Chart $EDC $LVS $AEM $RIG http://t.co/ZXuzRpuvtb
chartguy89
29 Sep 14 07:01:39
EDC Stock Chart $EDC $LVS $AEM $RIG http://t.co/mmyxwPNoKF http://t.co/Q82ZZL6aru
ETF Database
29 Sep 14 07:01:16
$EEM sinks right through 200day SMA -- $EDC off by more than 6%
Fake CNBC
29 Sep 14 06:53:31
Bought $EDC 26.80 with a 50 cent stop. Bought $QIHU 70.69 with a 1.50 stop.
First Metro Sec
29 Sep 14 03:58:36
$EDC: Boosted its Visayas capacity with a 49 MW power plant.
Aman Sotto Pizarro
29 Sep 14 01:29:35
RT @_kmontealegre: $EDC starts operating new geothermal plant in Negros http://t.co/3UbKYnFvlu
Aman Sotto Pizarro
29 Sep 14 01:29:04
RT @harleywong: $EDC ATH is at 7.9 registered Feb 2013.
Operation Knowledge
29 Sep 14 00:20:59
RT @scribblerjack: RT @_kmontealegre: $EDC starts operating new geothermal plant in Negros http://t.co/D0vyehfZ0N
Operation Knowledge
29 Sep 14 00:20:59
RT @_kmontealegre: $EDC starts operating new geothermal plant in Negros http://t.co/3UbKYnFvlu
Harley Wong
29 Sep 14 00:11:09
$EDC ATH is at 7.9 registered Feb 2013.
				
				
  +Follow August 21, 2013 11:56AM
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