Daily ETF Roundup: DXJ Tumbles After Nikkei Freefall, XLU Slumps

It was a volatile session on Wall Street today, fueled by concerns over potential Fed policy changes and disappointing data from China. Overnight, Japan’s Nikkei Stock average plummeted over 7%, sparking a broad global sell off and a brutal open in the U.S.. Stocks did, however, manage to recover some earlier losses after several better-than-expected economic readings were reported; U.S. new-home sales topped analysts forecasts, while the Labor Department reported unemployment benefits falling by 23,000 last week. In a separate report, flash Markit manufacturing PMI also came in stronger than expected in May [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: DXJ Tumbles After Nikkei Freefall, XLU Slumps Following a broad global sell-off, all three major U.S. equity indexes fell to close in negative territory. The Dow Jones Industrial Average ETF slipped 0.06%, after its underlying index fell sharply lower at the open. The S&P 500 ETF lost 0.28%, while the tech-heavy Nasdaq ETF fell 0.28%. In Europe, markets were broadly lower [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Stocks Finish Flat, IBB And DXJ Pop Daily ETF Roundup: YCS Pops On Weaker Yen, XLU Slides Alongside Utilities Daily ETF Roundup: Stocks Rebound On Bank of Japan Move Daily ETF Roundup: Stocks Close Out Quarter On High Note Daily ETF Roundup: Stocks Shrugg Off Sequester