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ADVISORY, Oct. 9, 2013 (GLOBE NEWSWIRE) -- The sell-off in U.S. equities accelerated this week as the shutdown of the U.S. Government stretched to its 9
th straight day. The lack of progress has markets increasingly worried about the economy and stalemated debt negotiations.
TOP INDEX MOVERS LAST 5 TRADING DAYS (+/-)
10/02 – 10/08
NASDAQ BIOTECHNOLOGY INDEX (NBI)
NASDAQ INTERNET INDEX (QNET)
PHLX HOUSING SECTOR INDEX (HGX)
NASDAQ OMX US WATER INDEX (GRNWATUSL)
NASDAQ CHINA INDEX (NQCN)
10/02 – 10/08
NASDAQ COMMODITY PRECIOUS METALS ER INDEX (NQCIPMER)
NASDAQ COMMODITY GOLD INDEX ER (NQCIGCER)
NASDAQ COMMODITY NATURAL GAS INDEX ER (NQCINGER)
NASDAQ COMMODITY CORN INDEX ER (NQCICER)
NASDAQ COMMODITY LEAN HOGS INDEX ER (NQCILHER)
"With each passing day of a shuttered government uncertainty grows, and one thing the stock market does not like is uncertainty," said Dave Gedeon, Managing Director, NASDAQ OMX Global Indexes. "Without any resolution on the horizon, the likelihood of a default and the immense fallout that would likely follow rises." INDEX MOVES THIS WEEK
The NASDAQ Biotechnology Index (NBI) fell 5.3% in the weekly period in a sharp break from the strong run-up during the past 3 years. The Index fell below its 50-day moving average on October 8th and has continued to weaken since.
Though gold remains in a longer-term downtrend, precious metals were generally stronger for the week as the NASDAQ Commodity Precious Metals ER Index (NQCIPMER) rose 3.4% over the most recent 5-day period.
Chinese stocks also rose over the period as some speculate on the possibility of additional Free Trade Zones being created in the country. The NASDAQ China Index (NQCN) rose 2.4%.