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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India is still reeling on widespread corporate reform meant to address the outdated financial laws that have been manipulated relentlessly by unscrupulous corporations.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
Rectitude Market
27 Mar 15 15:08:59
Daily Review - ETFs Watch ... Close Eye: $EDC http://t.co/BsJoDVS29k
Pug Trader
27 Mar 15 12:54:05
RT @holdingtrades: Que bien las $EDC de ayer @PugTrader
Iván
27 Mar 15 12:44:35
Que bien las $EDC de ayer @PugTrader
George Zavas
26 Mar 15 18:34:16
RT @RectitudeMarket: Daily Review - ETFs Watch ... Close Eye: $SPXL, $EDC http://t.co/NexJBziLTT
PubCool.com
26 Mar 15 15:32:54
RT @RectitudeMarket: Daily Review - ETFs Watch ... Close Eye: $SPXL, $EDC http://t.co/NexJBziLTT
nj46nick
26 Mar 15 15:22:43
RT @RectitudeMarket: Daily Review - ETFs Watch ... Close Eye: $SPXL, $EDC http://t.co/NexJBziLTT
Forex  News Insider.
26 Mar 15 15:20:12
RT @RectitudeMarket: Daily Review - ETFs Watch ... Close Eye: $SPXL, $EDC http://t.co/NexJBziLTT
Clayton Gilman
26 Mar 15 15:10:12
RT @RectitudeMarket: Daily Review - ETFs Watch ... Close Eye: $SPXL, $EDC http://t.co/NexJBziLTT
Rectitude Market
26 Mar 15 15:09:13
Daily Review - ETFs Watch ... Close Eye: $SPXL, $EDC http://t.co/NexJBziLTT
Eugenio
26 Mar 15 14:25:42
"@PugTrader: $EDC - MEX, stand by for LONG" a mi no me gusta la vela de hoy
Eugenio
26 Mar 15 13:47:59
RT @PugTrader: $EDC - MEX, stand by for LONG
Pug Trader
26 Mar 15 12:40:20
$EDC - MEX, stand by for LONG
Alejandro Aguilar
26 Mar 15 09:21:06
@_CardiacKid What you think about $EDC ..? buy or sell
The Cardiac Kid
25 Mar 15 22:04:48
ospreyeye: $EDC chart - 50 DMA /100 DMA $Golden: ospreyeye http://t.co/fPChRSayxd
dailystockplays.com
24 Mar 15 20:28:13
ADX Over 30 http://t.co/SFmHgUFmNB $ODP $AGG $KORS $HCA $NYMT $NGD $INFA $STNG $MPW $SAP $EDC $FIS $SVXY $SNY $TRI $HIW $GWX $AMCX $WTR $NUS
FE-LI-NO
23 Mar 15 15:44:29
RT @DailyStockPlays: Over 50 SMA http://t.co/q6OQc14U5O $NGD $OCN $GRPN $RAI $RDS-B $MDRX $AG $BIDU $CCE $LINE $DPS $PWR $EDC $ATI $BLMN $T…
dailystockplays.com
23 Mar 15 15:40:31
Over 50 SMA http://t.co/q6OQc14U5O $NGD $OCN $GRPN $RAI $RDS-B $MDRX $AG $BIDU $CCE $LINE $DPS $PWR $EDC $ATI $BLMN $TOT $BMS $TEF $WPZ $PPP
Solo traders
21 Mar 15 05:45:08
$EDC - FOMC: Connecting The Dots http://t.co/LfCeSztVHL
Jason Olive
21 Mar 15 05:41:51
RT @SeekingAlpha: FOMC: Connecting The Dots http://t.co/nJUmhQdVp7 $EEM $VWO $EDC $EDZ $SCHE $IEMG $EEV $ADRE $EET $EUM $GMM $EEME $DBEM $E…
Víctor
21 Mar 15 05:38:09
RT @SeekingAlpha: FOMC: Connecting The Dots http://t.co/nJUmhQdVp7 $EEM $VWO $EDC $EDZ $SCHE $IEMG $EEV $ADRE $EET $EUM $GMM $EEME $DBEM $E…
Seeking Alpha
21 Mar 15 05:33:06
FOMC: Connecting The Dots http://t.co/nJUmhQdVp7 $EEM $VWO $EDC $EDZ $SCHE $IEMG $EEV $ADRE $EET $EUM $GMM $EEME $DBEM $EMCR $FEM $EWEM
Harish Kapoor
20 Mar 15 10:17:05
Booked profit $EDC
				
				
  +Follow August 21, 2013 11:56AM
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