June 05, 2013 at 16:59 PM EDT
Daily ETF Roundup: VXX Spikes On Fed Concerns, XLB Tumbles
Wall Street endured a steep sell-off today, as another round of disappointing economic reports and concerns over when the Fed will begin tapering weighed heavily on the markets. In economic news, ADP and Moody’s reported only 135,000 new private-sector jobs in May, well bellow the expected 170,000. Meanwhile, the Institute for Supply Management’s non-manufacturing purchasing managers’ index came in slightly higher, though the employment index missed forecasts. Tomorrow, investors will be keeping a close eye on the Labor Department’s employment report [see The Cheapest ETF for Every Investment Objective]. Global Market Overview: VXX Spikes On Fed Concerns, XLB Tumbles Following today’s disappointing economic reports, all three major U.S. equity indexes tumbled into negative territory. The Dow Jones Industrial Average ETF fell 1.52% after its underlying index slipped below the 15,000 level. The S&P 500 ETF shed 1.44%, while the tech-heavy Nasdaq ETF lost 1.23%. In Europe, markets were broadly lower following a disappointing eurozone retail sales report. The [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: TLT Tumbles On Fed Tapering Fears, XLB Slumps Daily ETF Roundup: Dow Tumbles, Posting Worst One-Day Drop In 2013 Daily ETF Roundup: Stocks Close Higher As Earnings Season Kicks Off Daily ETF Roundup: Early Morning Rally Sizzles, Stocks Close In Red Daily ETF Roundup: Stocks End Off Lows, Volatility Spikes
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