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Emerging Market ETFs Experience Significant Drop

  +Follow August 21, 2013 11:56AM
Tickers Mentioned:

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India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations.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
Mosko Trading
19 Sep 14 10:47:45
Abriendo posiciones en $EDC
Harley Wong
19 Sep 14 01:41:47
$LPZ $FPH $EDC $ABS $FGEN - Lopez Stocks (18-Sept-2014) http://t.co/NIsLlkYnns
18 Sep 14 17:41:10
http://t.co/hjgLwIcNgz danrocks: $PLUG Picking Up MOMO $ACT $JRJC $T $EDC $GTAT: danrocks http://t.co/uSapAAPYkM http://t.co/hjgLwIcNgz
keith b
18 Sep 14 12:36:50
bot some $edc.
Investors Hangout
18 Sep 14 10:46:33
Stock_Tracker: $EDC Company News The Emperor Has No Clothes: http://t.co/sE10xL8Ye5
Investors Hangout
18 Sep 14 10:46:33
Stock_Tracker: $EDC Company News The Emperor Has No Clothes: http://t.co/UnVwmLYEnx
18 Sep 14 10:17:30
$EDC Company News The Emperor Has No Clothes: Emerging Market Investing Just Got Simpler 7:33 a.m. Sept. 5, 20 http://t.co/mZFyEdRnjL
Investors Hangout
18 Sep 14 08:52:37
danrocks: $PLUG Picking Up MOMO $ACT $JRJC $T $EDC $GTAT http://t.co/HaowwLqUsf
Investors Hangout
18 Sep 14 08:52:37
danrocks: $PLUG Picking Up MOMO $ACT $JRJC $T $EDC $GTAT http://t.co/lko6uS1NE1
18 Sep 14 08:40:10
http://t.co/Vv1sYDyeQn danrocks: ALERTS, HOT STOCKS & CHARTS: $PLUG Picking Up MOMO $ACT $JRJC $T $EDC $GTAT http://t.co/l9yTD9ExBB
Investors Hangout
18 Sep 14 08:39:52
leahanne: $EDC Emrg Mkts Bull 3X Direxion (EDC) 31.73 +0.27 http://t.co/QDHiN3QSER
18 Sep 14 08:39:45
http://t.co/Vv1sYDyeQn chartguy89: Stock Charts: BIDU Stock Chart $BIDU $EDC $HYG $USLV http://t.co/uFrvZoOcnD
Investors Hangout
18 Sep 14 08:39:36
leahanne: $EDC Emrg Mkts Bull 3X Direxion (EDC) 31.73 +0.27 http://t.co/N26hY7Mikj
  The  TURK
18 Sep 14 08:38:27
RT @danrocks4: $PLUG Picking Up MOMO $ACT $JRJC $T $EDC $GTAT http://t.co/U7tqdobGG6
18 Sep 14 08:38:15
$PLUG Picking Up MOMO $ACT $JRJC $T $EDC $GTAT http://t.co/U7tqdobGG6
18 Sep 14 08:32:57
BIDU Stock Chart $BIDU $EDC $HYG $USLV http://t.co/3vUo3KjSy9 http://t.co/xFm4LKpWmA
18 Sep 14 08:26:09
$EDC Emrg Mkts Bull 3X Direxion (EDC) 31.73 +0.27 (+0.86%) $TWTR $ACHN $DDD http://t.co/w4OoMw19Y0
18 Sep 14 07:50:12
$GS Stock Chart $GS Most recent stock chart and technical analysis. $EDC $MDW $FSLR $UVXY $ATP.TO $CAG http:// http://t.co/9E9lg9rOA1
16 Sep 14 13:04:54
I moved to all cash at the close. All in all a decent day. $EDC $EEM
Iván Santiago
16 Sep 14 09:59:02
$EDC today http://t.co/kwAo41KPyR
Iván Santiago
16 Sep 14 09:57:05
@LvarezLeonel no pero estoy largo en $EDC!
16 Sep 14 09:15:30
Just sold half of $EDC for almost 4%. Stop at break even on the rest.
16 Sep 14 08:49:46
$EDC ladies & gents from $31.40.
16 Sep 14 08:38:56
$EDC (Emerging Markets) buying on recent weakness here.
16 Sep 14 07:03:24
Bought $EDC 31.40. Stop 30.90
Charles Lim
14 Sep 14 20:14:01
$EDC abangan
13 Sep 14 10:50:50
RT @wddeguzman: $EDC subsidiary extends supply contract with Capiz to 2040 http://t.co/jGcA6gaPzP
  +Follow August 21, 2013 11:56AM



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