Investors were spooked today by more bad news from Europe as the ECB made an unexpected move. Almost every major asset class took a nosedive on the day as traders feel that Friday’s European summit will not bring the good news that many had been hoping for. The DOW lobbed off nearly 200 points and closed below 12,000 after a nice rallying period to start the month. The S&P 500 lost grip on the 1,240 mark that many hoped would act as a resistance level; the index dropped over 2.1% for the total session. Though it was a choppy day for gold, the precious metal was finally able to break its correlation rut and feature a small jump on the day. But the hardest hit, no doubt, was crude oil, as the commodity lost 2.5% and finished at $98/barrel [see also 25 Ways To Invest In Crude Oil]. December has [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: VGK Rises On Euro Stability, VXX Plunges On Improving Confidence Daily ETF Roundup: VGK Soars As Berlusconi Resigns, VXX Tumbles On Market Strenght Daily ETF Roundup: VGK Rises On Rate Cut And Greek Flip Flow, VXX Sinks On Euro Euphoria Daily ETF Roundup: VGK Soars On Europe Hopes, VXX Dips On Strong Equities Three ETFs To Watch This Week: SPY, VGK, VXX
Investors were spooked today by more bad news from Europe as the ECB made an unexpected move. Almost every major asset class took a nosedive on the day as traders feel that Friday’s European summit will not bring the good news that many had been hoping for. The DOW lobbed off nearly 200 points and closed below 12,000 after a nice rallying period to start the month. The S&P 500 lost grip on the 1,240 mark that many hoped would act as a resistance level; the index dropped over 2.1% for the total session. Though it was a choppy day for gold, the precious metal was finally able to break its correlation rut and feature a small jump on the day. But the hardest hit, no doubt, was crude oil, as the commodity lost 2.5% and finished at $98/barrel [see also 25 Ways To Invest In Crude Oil]. December has [...]
Click here to read the original article on ETFdb.com.
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