Equity indexes all over the world turned for the worst as Italian debt woes stole the headlines and sparked a massive sell-off across virtually every corner of the market. Investors dumped stocks as yields on 10-Year Italian bonds soared over 7%, leading to widespread fear that EU leaders are not well prepared to deal with a full blown financial crisis in case one potentially develops [see our Euro Free Europe Portfolio]. The U.S. dollar took on safe haven appeal and soared amidst the uncertainty in the currency markets, while gold struggled to keep its head above the $1,800 level. Futures prices for the precious yellow metal sank desperately lower alongside equity indexes, closing near $1,770 an ounce for the day. With all eyes on Europe, investors will shift their focus to the Bank of England later today when it releases its latest interest rate decision. More importantly, investors will pay [...] Click here to read the original article on ETFdb.com. Related Posts: Three Long/Short Ideas For Euro Zone Debt Drama ETF Insider: Bulls Look To Stampede Over Euro Drama ETF Insider: Which Way Will The Bulls Run? Wednesday’s ETF Chart To Watch: Rydex CurrencyShares British Pound Sterling Trust (FXB) Tuesday’s ETF To Watch: CurrencyShares British Pound Sterling Trust (FXB)
Equity indexes all over the world turned for the worst as Italian debt woes stole the headlines and sparked a massive sell-off across virtually every corner of the market. Investors dumped stocks as yields on 10-Year Italian bonds soared over 7%, leading to widespread fear that EU leaders are not well prepared to deal with a full blown financial crisis in case one potentially develops [see our Euro Free Europe Portfolio]. The U.S. dollar took on safe haven appeal and soared amidst the uncertainty in the currency markets, while gold struggled to keep its head above the $1,800 level. Futures prices for the precious yellow metal sank desperately lower alongside equity indexes, closing near $1,770 an ounce for the day. With all eyes on Europe, investors will shift their focus to the Bank of England later today when it releases its latest interest rate decision. More importantly, investors will pay [...]
Click here to read the original article on ETFdb.com.
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