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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India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations.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
Yosuph M. Asani
22 Nov 14 00:14:28
$EDC BacMan geothermal facility now completely operational @philstarbiznews http://t.co/uEhQC6TYpJ via @sharethis
21 Nov 14 13:18:53
$EDC looking for that $35 to be taken out.
21 Nov 14 10:21:12
$EDC back over $30's.
Iván Santiago
21 Nov 14 09:25:52
$EDC +6.70%
21 Nov 14 07:28:41
$EDC creo q podria ir a buscar 460 pesos en los siguientes meses
Penny Stocks Blog
21 Nov 14 05:00:33
RT @StockKingz: Premarket Gainers- $BID $SPLK $JNUG $CLF $ERX $JRJC $RESN $EDC $ROST $SBGL $SFUN $SCTY $NUGT $EYES #stocks #trading
21 Nov 14 04:57:10
Premarket Gainers- $BID $SPLK $JNUG $CLF $ERX $JRJC $RESN $EDC $ROST $SBGL $SFUN $SCTY $NUGT $EYES #stocks #trading
Timm Anderson
21 Nov 14 04:51:37
early movers 5% or more $GASL $CLF $BID $SPLK $ERX $RESN $EDC $JNUG $ROST $SBGL $SFUN $UWTI $JRJC
Seeking Alpha - All
21 Nov 14 03:21:22
Dynamics Of A New Regime: What's Changed Around The World? http://t.co/dEUcvC5WrC $EEM $FXI $VWO $DXJ $EWJ $VGK $VB $EDC $FEZ $VO $VBR
20 Nov 14 22:02:27
To sum up my trading week: $2GO, $EDC, $PLC Glory to God.
Aman Pizarro
20 Nov 14 21:57:04
RT @camcfeliciano: $EDC settles dispute with Bacman power plant contractor; discontinues arbitration initiated in Nov 2013 @bworldph
20 Nov 14 21:00:46
RT @camcfeliciano: $EDC settles dispute with Bacman power plant contractor; discontinues arbitration initiated in Nov 2013 @bworldph
20 Nov 14 20:10:48
RT @camcfeliciano: $EDC settles dispute with Bacman power plant contractor; discontinues arbitration initiated in Nov 2013 @bworldph
Claire Feliciano
20 Nov 14 19:49:16
$EDC settles dispute with Bacman power plant contractor; discontinues arbitration initiated in Nov 2013 @bworldph
Company Disclosures
20 Nov 14 16:20:01
$EDC: Material Information/Transactions #PseDisclosure http://t.co/lmw8Vtmj3A
Isaiah Perez
20 Nov 14 13:05:18
$EDC broadening top #PSE http://t.co/DnqIsV5kEd
Chasing Stars
19 Nov 14 22:14:52
$CMG Chart Click Here: http://t.co/hSaloN7uBW Also See: $GMCR $EDC $HGD.TO $FGEN ~
19 Nov 14 08:54:37
RT @Philstocks_ACEC: $EDC EDC eyes 550-MW wind power capacity
Belen San Juan
17 Nov 14 19:18:52
$EDC ❤️❤️❤️ #PSEi
17 Nov 14 18:19:45
$EDC EDC eyes 550-MW wind power capacity
Investment Juan01
17 Nov 14 18:01:21
Market seems to appreciate $EDC and $FGEN reports and plans. Their mama though, $FPH remains lagging behind.
17 Nov 14 17:56:06
$EDC this is just the beginning.. :)
Kim Co Lim
17 Nov 14 17:33:56
RT @harleywong: $EDC new 52wk high
Harley Wong
17 Nov 14 17:33:11
$EDC new 52wk high
Company Disclosures
16 Nov 14 23:20:02
$EDC: Clarification of News Reports #PseDisclosure http://t.co/Jj2WI9rVbv
16 Nov 14 10:18:31
EDC 50.175 Stock Charts $EDC Consolidated Edison Inc. (FRA) Any opinions on EDC? Please reply to this post. La http://t.co/IeW7havIpE
15 Nov 14 05:28:09
$AEMD alot of talk going around about this one $EDC $LUV $XHB $ABX $TCEL http://t.co/yL6RAnhfqs
15 Nov 14 02:24:18
$PG Candlesticks $PG Most recent stock chart and technical analysis. $GG $EDC $MUX $USLV $AOS $SH http://stock http://t.co/yTfigEfj8F
Etos Etana
15 Nov 14 02:09:35
RT @IHPosts: DennyT: EDC Investopedia $EDC $SDS $AKRX $LEG $ANV http://t.co/IrN1VyfCGa
Investors Hangout
15 Nov 14 01:56:18
DennyT: EDC Investopedia $EDC $SDS $AKRX $LEG $ANV http://t.co/DFRt5D0MlL
Investors Hangout
15 Nov 14 01:56:13
DennyT: EDC Investopedia $EDC $SDS $AKRX $LEG $ANV http://t.co/IrN1VyfCGa
15 Nov 14 01:25:38
EDC Investopedia $EDC $SDS $AKRX $LEG $ANV Barchart Opinion,Volume,Low,Recent Headlines,Showing on my streamer http://t.co/gLVD50Xeia
Extreme Stocks
14 Nov 14 22:23:49
leahanne: $EBAY Ebay Inc (EBAY) 54.36 -0.01 (-0.02%) $EDC http://t.co/Jrp19gGJkn
14 Nov 14 22:18:14
$EBAY Ebay Inc (EBAY) 54.36 -0.01 (-0.02%) $EDC $CVX $CMCM http://t.co/lTXSef4lzR
  +Follow August 21, 2013 11:56AM



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