The new quarter started on a down note across the board, as more fears over Greece and concerns over a hard landing in China weighed on markets. The losses were pretty significant in most sectors although the worst of it was contained to the financial and basic materials corners of the market. Beyond these two sectors, one segment of the transportation industry, airlines, was also crushed on the day, this despite the continued slide in oil prices which usually benefits these crude-intensive firms. While worries over Europe and global growth certainly weighed on the airlines, yesterday’s fall was undoubtedly thanks to rumors of bankruptcy at American Airlines (AMR). Rumors of AMR’s possibly bankruptcy quickly swept through the markets in Monday’s trading session leading to a cataclysmic day for shareholders in the firm. In fact, at one point in Monday’s trading, AMR shares were down close to 40% at one point [...] Click here to read the original article on ETFdb.com. Related Posts: Time To Buy The Airline ETFs? Three ETFs To Monitor As Hurricane Irene Wreaks Havoc Three ETFs To Watch This Week: GLD, FAA, FXE May ETFdb Category Kings: Best Performing ETFs Three ETFs To Watch This Week: IDX, BBH, FAA
The new quarter started on a down note across the board, as more fears over Greece and concerns over a hard landing in China weighed on markets. The losses were pretty significant in most sectors although the worst of it was contained to the financial and basic materials corners of the market. Beyond these two sectors, one segment of the transportation industry, airlines, was also crushed on the day, this despite the continued slide in oil prices which usually benefits these crude-intensive firms. While worries over Europe and global growth certainly weighed on the airlines, yesterday’s fall was undoubtedly thanks to rumors of bankruptcy at American Airlines (AMR). Rumors of AMR’s possibly bankruptcy quickly swept through the markets in Monday’s trading session leading to a cataclysmic day for shareholders in the firm. In fact, at one point in Monday’s trading, AMR shares were down close to 40% at one point [...]
Click here to read the original article on ETFdb.com.
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