Today was another dismal trading session as euro fears continued to plague markets. The Dow lost over 130 points while the NASDAQ and S&P 500 lost 1.6% and 1.1% respectively. Though many were hoping for a “Santa rally” to close out the year, markets have been riddled with instability as the last few weeks have been focused on the progress, or lack thereof, of the euro zone. Today saw the EUR/USD rate fall below $1.3 for the first time in recent memory, sparking a sell-off that only intensified as the day came to a close [see also 12 High-Yielding Commodities For 2012]. Perhaps the biggest stories on the day came from gold and oil, which turned in terrible performances. Gold lost $85/ounce, or 5.1%, as its price dipped below $1,600, leading many to call the long bull movement in the precious metal to be sputtering out. Oil featured identical losses [...] Click here to read the original article on ETFdb.com. Related Posts: Ten Unexpected Observations On YTD ETF Returns Daily ETF Roundup: GLD Hits Six Week High, UNG Crushed By Mild Weather ETF Price Cuts: NAGS, EPI Slash Fees February ETF Flows: Commodities Are Hot, Emerging Markets Are Not Daily ETF Roundup: UNG, GLD Lead Commodity ETF Surge
Today was another dismal trading session as euro fears continued to plague markets. The Dow lost over 130 points while the NASDAQ and S&P 500 lost 1.6% and 1.1% respectively. Though many were hoping for a “Santa rally” to close out the year, markets have been riddled with instability as the last few weeks have been focused on the progress, or lack thereof, of the euro zone. Today saw the EUR/USD rate fall below $1.3 for the first time in recent memory, sparking a sell-off that only intensified as the day came to a close [see also 12 High-Yielding Commodities For 2012]. Perhaps the biggest stories on the day came from gold and oil, which turned in terrible performances. Gold lost $85/ounce, or 5.1%, as its price dipped below $1,600, leading many to call the long bull movement in the precious metal to be sputtering out. Oil featured identical losses [...]
Click here to read the original article on ETFdb.com.
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