ADVISORY, June 26, 2013 (GLOBE NEWSWIRE) -- The sell-off during the latter part of last week was driven by perceived hawkish Fed commentary and global deleveraging, as rate-sensitive corners of the market were down significantly. The NASDAQ Composite Index (IXIC) dropped 3.9%.
"The scrutiny of Fed communications around QE3 and China's cash crunch have brought volatility back into the market," said Dave Gedeon, Managing Director, NASDAQ OMX Global Indexes. "All asset classes were hit particularly hard in the past week due to fear that the Fed's actions will ultimately bring rates up and cause equities to fall. In addition, if China continues on a negative news trend, commodities will continue to be at risk."
|LARGEST INDEX DECLINERS|
|TOP 5 EQUITY INDEX DECLINERS:||6/18 - 6/25|
|PHLX HOUSING SECTOR INDEX (HGX)||-8.98%|
|NASDAQ EM EUROPE INDEX (NQEMEUR)||-8.37%|
|NASDAQ CHINA INDEX (NQCN)||-8.16%|
|NASDAQ EMERGING MARKETS INDEX (NQEM)||-6.97%|
|NASDAQ OMX GLOBAL WATER INDEX (GWATERL)||-6.80%|
|TOP 5 COMMODITY INDEX DECLINERS:||6/18 - 6/25|
|PHLX GOLD/SILVER SECTOR INDEX (XAU)||-13.06%|
|NASDAQ COMMODITY PRECIOUS METALS INDEX ER (NQCIPMER)||-7.23%|
|NASDAQ COMMODITY GOLD INDEX ER (NQCIGCER)||-6.72%|
|NASDAQ COMMODITY NATURAL GAS INDEX ER (NQCINGER)||-6.54%|
|NASDAQ COMMODITY BRENT CRUDE INDEX ER (NQCICBER)||-4.58%|
- The NASDAQ EM Europe Index (NQEMEU) (-8.37%) and NASDAQ China Index (NQCN) (-8.16%) were the biggest decliners overseas with interbank funding dominating the headlines. In addition, China reported softening manufacturing figures, which helped drive global concerns.
- Gold and silver have fallen to 33-month lows on the uncertainty surrounding the timing of QE tapering and more concerns in China. The PHLX Gold/Silver Sector Index (XAU) has dropped 13.06% over the past five trading days.
- Finally, homebuilders and housing stocks suffered steep losses on heightened worries about the impact of higher mortgage rates. The PHLX Housing Sector Index (HGX) fell 8.98% through yesterday's close.
CONTACT: MEDIA CONTACTS: Nick Lawler Intermarket Communications (212) 754-5613 firstname.lastname@example.org Chauntez Wilson Intermarket Communications (212) 754-5415 email@example.com Wayne Lee NASDAQ OMX (301) 978-4875 Wayne.firstname.lastname@example.org
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV