Today brought new meaning to the phrase one step forward, two steps back. After a bustling October, one of the best months for stocks in the last decade, November has gotten off to a terrible start. Markets tanked today as investors mulled over worsening fears of debt issues abroad. Today saw almost no major asset class post a session in the black; the Dow surrendered nearly 400 points while the S&P tanked by 3.7%. But the hits didn’t stop there, as oil, which managed to hold its ground for a while, finished down about 0.9% while gold lost 1.4%. Investors have grown increasingly frustrated with gold recently as the precious metal that was once considered a safe haven, has become semi-correlated to major equities [see also Three Long/Short Ideas For Euro Zone Debt Drama]. All eyes have now shifted to Italy, the world’s 8th largest economy, as their ten year [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: EFA Surges On Europe Hopes, VXX Tanks On Strong Markets Daily ETF Roundup: VGK Soars As Berlusconi Resigns, VXX Tumbles On Market Strenght ETF Insider: Bulls Look To Stampede Over Euro Drama Daily ETF Roundup: VXX Jumps On Market Weakness, SPY Dips On Jobs Report, Russell Expands Suite Of “Factor ETFs” With Ex-U.S. Funds
Today brought new meaning to the phrase one step forward, two steps back. After a bustling October, one of the best months for stocks in the last decade, November has gotten off to a terrible start. Markets tanked today as investors mulled over worsening fears of debt issues abroad. Today saw almost no major asset class post a session in the black; the Dow surrendered nearly 400 points while the S&P tanked by 3.7%. But the hits didn’t stop there, as oil, which managed to hold its ground for a while, finished down about 0.9% while gold lost 1.4%. Investors have grown increasingly frustrated with gold recently as the precious metal that was once considered a safe haven, has become semi-correlated to major equities [see also Three Long/Short Ideas For Euro Zone Debt Drama]. All eyes have now shifted to Italy, the world’s 8th largest economy, as their ten year [...]
Click here to read the original article on ETFdb.com.
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