Daily ETF Roundup: Stocks Sputter On Spain Stress Test

Uncertainty clouded Wall Street once again today, as concerns over Spain and lackluster reports on U.S. wage gains and manufacturing had markets sputtering to the finish. As has been the trend in recent weeks, all eyes remained on Spain today after speculations over whether or not Moody’s Investors Service will downgrade the Spanish government debt to “junk” status. Weighing heavily on Spain’s potential downgrade was today’s stress test for Spain’s banks, which showed that the financial system’s capital shortfall is roughly 60 billion euros in a stressed scenario. Meanwhile, Chicago-area business activity came in significantly lower than expected, posting its first contraction in three years [see Free Report: Seven Simple & Cheap All-ETF Model Portfolios]. Global Market Overview: Stocks Sputter On Spain Stress Test All three U.S. stock indexes slipped into negative territory, extending losses from yesterday. Tech-heavy Nasdaq (QQQ) came in at the bottom of the barrel, shedding 2.0% during the session. The Dow Jones Industrial Average [...] Click here to read the original article on ETFdb.com. Related Posts: Ten Unexpected Observations On YTD ETF Returns Europe ETFs: Rising From The Dead Brief History Of ETFs Daily ETF Roundup: Draghi Delivers, Markets Applaud Daily ETF Roundup: Markets Slump On Jackson Hole Jitters