Spain, Greece ETFs Backpedal On Protests

September 28, 2012

 

Protests in Spain and Greece turned violent as demonstrators continued to battle against austerity, and that has put an end to the early-September rallies of the Global X FTSE 20 ETF (NYSEArca: GREK) and the iShares MSCI Spain Index (NYSEArca: EWP), according to an article on ETF Trends.

The recent decline in fund performance comes as European Central Bank commitments to back the euro are met by the messy political process that has dogged the eurozone since the crisis took shape in early 2010, the article said.

The political instability began on Wednesday, and during the trading day, the Spanish stock market fell 3.9 percent and even the German DAX index shed 2 percent, according to ETF Trends.

Visit ETFtrends.com for the full story.

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