Monday ETF Roundup: VXX Jumps On Greek Woes, EWZ Slides
By Stoyan Bojinov:Stocks on Wall Street extended their losing streak from last week as the ongoing political gridlock in Greece continues to weigh down on investors’ confidence. On the home front, profit taking pressures hit the S&P 500 Index the hardest, dragging it down by 1.11% on the day, while the Dow Jones Industrial Average fared slightly better, shedding 0.98% on the day. Amidst the looming uncertainties, gold also fell victim to profit taking. Futures prices for the precious yellow metal slid roughly 2% on the session, settling near $1,560 an ounce.
With no major economic data releases taking place on the home front this Monday, investors focused their attention overseas, where developments remain clouded with uncertainty. Madelynn Matlock of Huntington Asset Advisors commented, “The whole European political situation is really the focus at this point. Nobody really knows what’s going to happen next and the market hates uncertainty more than anything."Complete Story »