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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India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations.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)

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Results for EDC
TalkMarkets
24 Apr 15 22:39:01
Emerging Markets Are Hot $SCHE $VWO $EEM $IEMG $EDC http://t.co/fEb25JHcmc
Luis Fierro
24 Apr 15 18:52:51
RT @ivan_sanbal: gráfico semanal $EDC mercados emergentes nada mas vean donde esta resistencia que no supera desde 2012 http://t.co/0Ym3wg2…
Market Parse
24 Apr 15 18:17:16
@arnoldtenorio Since your tweet was sent $EDC has risen 6.283%. See your featured tweet on Market Parse http://t.co/YHInvBCk4m
Market Parse
24 Apr 15 18:17:15
@BPItrade Since your tweet was sent $EDC has risen 6.283%. See your featured tweet on Market Parse http://t.co/YHInvBCk4m
Richard
24 Apr 15 17:18:13
RT @ivan_sanbal: gráfico semanal $EDC mercados emergentes nada mas vean donde esta resistencia que no supera desde 2012 http://t.co/0Ym3wg2…
TalkMarkets Recap
24 Apr 15 16:39:01
Emerging Markets Are Hot $SCHE $VWO $EEM $IEMG $EDC http://t.co/AFZAW0LiCJ
Eugenio
24 Apr 15 14:09:29
$EDC en resistencia histórica, $EDZ en mínimos, Asia en nuevos máximos, momento de confirmar continuación $EEM o quiebre
Eugenio
24 Apr 15 13:40:47
RT @ivan_sanbal: gráfico semanal $EDC mercados emergentes nada mas vean donde esta resistencia que no supera desde 2012 http://t.co/0Ym3wg2…
TalkMarkets
24 Apr 15 09:42:01
Emerging Markets Are Hot $SCHE $VWO $EEM $IEMG $EDC http://t.co/fEb25JHcmc
Axel Zamudio
24 Apr 15 08:19:54
@eugeniodeveze jajaj suele pasar. Cuando veo fotos o carteles del Electric no dejo de pensar en $EDC
Iván Santiago
24 Apr 15 08:00:21
gráfico semanal $EDC mercados emergentes nada mas vean donde esta resistencia que no supera desde 2012 http://t.co/0Ym3wg2ill
Eugenio
24 Apr 15 07:32:44
Que el Electric Daisy Carnival tenga el mismo acrónimo que el Direxion Daily Emerging Markets Bull 3x $EDC me choca :/
Alejandro Aguilar
23 Apr 15 09:05:48
@RichardTrader @BacardiTrader salida de EDZ perdida... $EDC cambio, no veo cruce..
Alejandro Aguilar
23 Apr 15 06:57:31
@RichardTrader @BacardiTrader malas noticias.. paso a positivo, si no queda negativo hoy, sugiero $EDC
Philstocks
22 Apr 15 18:04:28
$EDC files arbitration case against engineering firm
dailystockplays.com
22 Apr 15 15:01:06
Over Keltner http://t.co/P0QHlLx6WV $EEM $CSX $SFUN $VWO $KMI $SCTY $PRGO $WMB $SNE $MBLY $CIG $HMSY $RRC $AMCN $EMN $FFIV $EDC $IEMG
Harish Kapoor
22 Apr 15 10:57:04
Booked some profit $GREK and $EDC
Kevin B. Bantz
22 Apr 15 06:53:49
$EDC Fade http://t.co/poHrB4qjZN
Eugenio
22 Apr 15 06:15:20
@MexTrader Ese $EEM es rebelde, yo creo va a ser la opción $EDC
Eugenio
22 Apr 15 06:01:16
"@seeitmarket: "Relative Strength Breakout For Emerging Markets?" http://t.co/9qdkCKzFRd by @jbeckinvest $EEM $SPY $STUDY" $EDC $EDZ #TRMX
arnold tenorio
21 Apr 15 18:31:31
$EDC's BacMan geothermal unit brings contractor dispute to arbitration http://t.co/Xxq6DYOScC @lopezlinkph http://t.co/WVZUf9ibf6
BPI Trade
21 Apr 15 17:30:40
$EDC: EDC has initiated a new arbitration case against Weir Engineering Services, Ltd. EDC seeks payment of USD8.8M
nj46nick
21 Apr 15 15:32:51
RT @RectitudeMarket: Daily Review - ETFs Watch ... Close Eye: $FAS, $EDC, $DRN http://t.co/WklQXTPqTK
Rectitude Market
21 Apr 15 15:14:51
Daily Review - ETFs Watch ... Close Eye: $FAS, $EDC, $DRN http://t.co/WklQXTPqTK
PJ Valisno
21 Apr 15 07:14:59
$EDC unit files request for arbitration vs Weir Engineering w/ ICC; seeks $8.82M payment due to breach of contract via @camcfeliciano
Patrick Josh Valisno
21 Apr 15 06:41:29
RT @interaksyon: $EDC unit files request for arbitration vs Weir Engineering w/ ICC; seeks $8.82M payment due to breach of contract via @ca…
First Metro Sec
20 Apr 15 19:08:03
$EDC: Bacman Geothermal filed a request for arbitration w/the Int'l Court of Arbitration,
InterAksyon
20 Apr 15 18:30:25
$EDC unit files request for arbitration vs Weir Engineering w/ ICC; seeks $8.82M payment due to breach of contract via @camcfeliciano
BusinessWorld
20 Apr 15 18:30:25
$EDC unit files request for arbitration vs Weir Engineering w/ ICC; seeks $8.82M payment due to breach of contract via @camcfeliciano
BusinessWorld
20 Apr 15 17:43:12
RT @camcfeliciano: $EDC unit files request for arbitration vs Weir Engineering w/ ICC; seeks $8.82M payment due to breach of contract
Claire Feliciano
20 Apr 15 17:26:51
$EDC unit files request for arbitration vs Weir Engineering w/ ICC; seeks $8.82M payment due to breach of contract @bworldph
Company Disclosures
20 Apr 15 17:10:00
$EDC: Material Information/Transactions #PseDisclosure http://t.co/DFq8aX0J0M
MAtador Trader
19 Apr 15 17:22:59
$EDC Indecision (CSI), Bullish Reversal Buy, Bargain Caveat: Court decision for further payments for BACMAN plant http://t.co/WOR3WHH9Lt
Muathe
19 Apr 15 07:39:04
[VIDEO REPOST] Wkend World Mrkt Analysis 04/19/2015 $DXJ $DBEF $EWY $EWW $EWA $IEMG $RUSS $EDC $DJEF $VWO $HEEM $VTI http://t.co/OBS7LCzvPK
Víctor
19 Apr 15 00:47:22
RT @SeekingAlpha: Emerging Markets: Relationship Between Realized Risk And Returns http://t.co/YeHztMBxwu $EEM $VWO $EDC $EDZ $SCHE $IEMG $…
Jason Olive
19 Apr 15 00:46:55
RT @SeekingAlpha: Emerging Markets: Relationship Between Realized Risk And Returns http://t.co/YeHztMBxwu $EEM $VWO $EDC $EDZ $SCHE $IEMG $…
Keesha Fones
19 Apr 15 00:45:44
RT @SeekingAlpha: Emerging Markets: Relationship Between Realized Risk And Returns http://t.co/YeHztMBxwu $EEM $VWO $EDC $EDZ $SCHE $IEMG $…
Portfolio Strategy
19 Apr 15 00:40:38
Emerging Markets: Relationship Between Realized Risk And Returns http://t.co/wB6K2jUWrI $EEM $VWO $EDC $EDZ $SCHE $IEMG $EEV $ADRE $EET
Seeking Alpha
19 Apr 15 00:40:37
Emerging Markets: Relationship Between Realized Risk And Returns http://t.co/YeHztMBxwu $EEM $VWO $EDC $EDZ $SCHE $IEMG $EEV $ADRE $EET
dailystockplays.com
17 Apr 15 07:54:22
Free entry today Username: free Password: day http://t.co/x2aTbeHB3T $VXX $MNOV $NVDQ $LFC $MTW $KERX $EDC $UVE $CLVS $WBAI $$AKBA $YGE
				
				
  +Follow August 21, 2013 11:56AM
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