Yet again, U.S. equity markets slumped across the board as Greek
troubles overshadowed positive American reports during Wednesday
trading. The Dow fell by about 0.3% while the broader indexes
suffered heavier losses as the Nasdaq and the S&P 500 fell by,
respectively, 0.7% and 0.4% on the day.
Losses were again heavy in the financial sector, with all of the
major banks suffering once more in Wednesday trading. Tech also saw
weakness along with many names in the basic materials space, while
consumer goods, health care and staples led the way on the upside
Try Value Investing With These Large Cap ETFs
In currency trading, the U.S. dollar continued to rise against
the world's major currencies, led by more gains against the pound
and the euro. Nevertheless, Treasury bill trading was flat, as the
10 Year note saw yields decline by a single basis point while rates
rose along the short end of the curve.
Commodity trading was much more volatile in the session as oil
products fell across the board while natural gas stormed higher
once again with a 5.2% gain. Agricultural commodities, on the other
hand, were more mixed as losses in soft commodities balanced out
with strong performances in many of the grains. Meanwhile, metals
continued to face weakness, especially in the case of silver as the
white metal declined by 3.3% on the day.
ETF trading was relatively heavy across the board as many
products saw solid volume in the volatile session. An above average
number of shares changed hands in many of the industry's most
well-known products while those in the leveraged, international,
and short segments saw a great deal of interest.
In particular, investors saw a huge increase in trading for the
SPDR S&P China ETF (
. The fund usually sees volume of about 173,000 shares but
experienced a spike up to 1.8 million shares in Wednesday's session
Forget FXI: Try These Three China ETFs Instead
The move came as several other China funds saw outsized trading
volume days although few even came close to GXC on the session. In
terms of timing, the vast majority of the activity came in the
second half of the session although it helped to drag the fund
lower, pushing GXC down about 2.2% for the day.
Another fund that experienced a big jump in interest was the
SPDR Global Dow ETF (
. The product usually sees just 7,500 shares change hands in a
normal session but saw a spike to 92,000 shares in Wednesday's
This spike was obviously far greater than other globally-focused
ETFs and was largely due to a huge block trade in the product. In
the first half hour of trading, investors saw about 86,400 shares
change hands, a figure that comprises nearly all of the product's
volume for the day. In fact, the ETF didn't trade for much of the
day until some light volume in the final hour of the session.
Nevertheless, the product finished the day down about 0.4%,
in-line with many other products in the space although this ETF
produced less in losses thanks to its more large cap focus (read
Five Great Global ETFs For Complete Equity
(For more on ETFs check out the
To read this article on Zacks.com click here.
Want the latest recommendations from Zacks
Investment Research? Today, you can download 7 Best Stocks for the
Next 30 Days. Click to get this free report