Profit taking pressures swept across Wall Street today after troubling news from the euro zone over the weekend prompted a broad sell-off. According to reports, Cyprus is considering plans to impose a tax on bank depositors, a precondition for receiving a $13.08 billion bailout form the European Commission, the ECB, and the IMF. Many fear that this drastic policy action could spill over to other nations in the currency bloc, namely the severely debt-burdened Italy, Spain, and Greece. On the homefront, investors digested a reading of home builders’ confidence, which fell more than expected and for a second straight month[see Free Member Report: How To Pick The Right ETF Every Time]. Global Market Overview: Stocks Close Lower on Cyprus Fears Following news of Cyprus’s bailout plan, all three major U.S. equity indexes fell to close in negative territory. The S&P 500 ETF fell 0.55%, as its underlying index fell further away from its all-time high. The Dow Jones Industrial Average [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Dow Snaps Its 10-Day Win Streak Daily ETF Roundup: Dow Sets Yet Another Record Daily ETF Roundup: Dow Posts First 9-Day Win Streak Since 1996 Daily ETF Roundup: S&P Snaps 7-Day Win Streak Daily ETF Roundup: Stocks Higher Despite Disappointing Chinese Data
Profit taking pressures swept across Wall Street today after troubling news from the euro zone over the weekend prompted a broad sell-off. According to reports, Cyprus is considering plans to impose a tax on bank depositors, a precondition for receiving a $13.08 billion bailout form the European Commission, the ECB, and the IMF. Many fear that this drastic policy action could spill over to other nations in the currency bloc, namely the severely debt-burdened Italy, Spain, and Greece. On the homefront, investors digested a reading of home builders’ confidence, which fell more than expected and for a second straight month[see Free Member Report: How To Pick The Right ETF Every Time]. Global Market Overview: Stocks Close Lower on Cyprus Fears Following news of Cyprus’s bailout plan, all three major U.S. equity indexes fell to close in negative territory. The S&P 500 ETF fell 0.55%, as its underlying index fell further away from its all-time high. The Dow Jones Industrial Average [...]
Click here to read the original article on ETFdb.com.
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