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Daily ETF Roundup: Stocks Decline On Fiscal Cliff Fears
Bearish momentum continued on Wall Street today, as ongoing fears over the looming fiscal cliff overshadowed better-than-expected economic reports. The number of Americans applying for jobless benefits fell last week, bucking analyst’s expectations for an increase. Meanwhile, the U.S. trade deficit unexpectedly narrowed in September to the lowest level since the end of 2010. Despite the positive reports, investors remain grim over the possibility of a split Congress coming up with a resolution before the automatic round of massive spending cuts and tax hikes are to take effect on January 1st [see also How To Pick The Right ETF Every Time]. Global Market Overview: Stocks Decline On Fiscal Cliff Fears Investors continued the post-election sell off today, pushing all three major U.S. indexes deeper into negative territory. Tech-heavy Nasdaq (QQQ) came in at the bottom of the barrel, shedding 1.42% during the session. The Dow Jones Industrial Average (DIA) and S&P 500 (SPY) dropped 0.94% and 1.22%, respectively. In [...]
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2012-11-09 00:40:07
Source: http://etfdb.com/2012/daily-etf-roundup-stocks-decline-on-fiscal-cliff-fears/
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