Daily ETF Roundup: EWY Leads Sell Off, VXX Soars Amidst Uncertainty

Equity markets around the globe plunged lower as ongoing Euro zone debt woes continue to weigh down on investor’s confidence, while resurfacing deficit drama in the U.S. only added to the growing cloud of uncertainty. The Dow Jones Industrial Average led the way lower, plunging 2.11% on the day, while the S&P 500 was the most resilient of the domestic equity indexes, shedding 1.87%. Profit taking was abundant across every corner of the market and even gold failed to take on safe haven appeal. Futures prices for the precious yellow metal broke below the $1,700 level, settling near $1,680 an ounce as the trading session drew to a close. Investor sentiment on Wall Street declined considerably after the supercommittee reportedly failed to reach an agreement, prolonging negotiations (and anxiety) into Tuesday and Wednesday. Mohamed A. El-Erian, CEO of Pacific Investment Management Co., said “The global selloff in risk assets reflects [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: VXX Surges On Market Panic, EWY Sinks On Recession Fears Daily ETF Roundup: VXX Sinks On Market Optimism, EWY Rises On Demand For Risky Assets Daily ETF Roundup: EWY Tumbles On Risk Aversion, VXX Soars On European Uncertainty Daily ETF Roundup: EWY Tumbles, VXX Skyrockets On Libyan Protests Three ETFs To Watch This Week: EWY, PALL, VXX