Spain ETF Crashes 7% As Euro Nears Two-Year Low
Posted on July 20, 2012 at 15:26 PM EDT
The usual suspects in the never-ending European debt crisis broke a three-day winning streak in exchange traded funds Friday. Financials led a broad European sell-off as the euro fell to a fresh two-year low. CurrencyShares Euro Trust (FXE), tracking the euro against the greenback, tumbled 0.89% as traders fled risky assets for safety in the dollar and yen. IShares MSCI Spain Index (EWP), -7.02%, plunged the deepest among all non-leveraged ETFs.