NASDAQ Weekly Market Pulse

With Focus On Interest Rates, Equity Markets See Dramatic Pull-Back, Led by Homebuilders

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%

INDEX MOVES THIS WEEK
  • 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.

Note: The NASDAQ Weekly Market Pulse first appeared on www.nasdaq.com
CONTACT: MEDIA CONTACTS:         Nick Lawler         Intermarket Communications         (212) 754-5613         nlawler@intermarket.com                  Chauntez Wilson         Intermarket Communications         (212) 754-5415         cwilson@intermarket.com                  Wayne Lee         NASDAQ OMX         (301) 978-4875         Wayne.d.lee@nasdaqomx.com

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