Government Shutdown and Debt Ceiling Deadline Begin to Weigh on Stock Markets 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 (+/-)|
|EQUITY INDEXES:||10/02 – 10/08|
|NASDAQ BIOTECHNOLOGY INDEX (NBI)||-5.3%|
|NASDAQ INTERNET INDEX (QNET)||-4.6%|
|PHLX HOUSING SECTOR INDEX (HGX)||-4.4%|
|NASDAQ OMX US WATER INDEX (GRNWATUSL)||-2.5%|
|NASDAQ CHINA INDEX (NQCN)||+2.4%|
|COMMODITY INDEXES:||10/02 – 10/08|
|NASDAQ COMMODITY PRECIOUS METALS ER INDEX (NQCIPMER)||+3.4%|
|NASDAQ COMMODITY GOLD INDEX ER (NQCIGCER)||+3.2%|
|NASDAQ COMMODITY NATURAL GAS INDEX ER (NQCINGER)||+2.4%|
|NASDAQ COMMODITY CORN INDEX ER (NQCICER)||+2.3%|
|NASDAQ COMMODITY LEAN HOGS INDEX ER (NQCILHER)||+2.3%|
- 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%.
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