Daily ETF Roundup: VXX Surges, EWZ Sinks

Equity markets fell sharply on Tuesday, as the Dow plunged more than 250 points and finished the day below 9,900. Trading was even worse for the broad benchmarks, as the S&P 500 slumped by 3.1% and the Nasdaq sank by close to 3.9% on the day. The steep drops came after news was released suggesting that growth was slowing in China and that American consumers are becoming less confident; data releases showed a sharp drop in the Conference Board’s confidence index, which fell from 62.7 down to 52.9 this month. “This is all part of the global economy we’re worried about; there just isn’t enough growth around to generate jobs,” said Jack Ablin, chief investment officer at Harris Private Bank. The ETFdb 60 Index, a benchmark measuring the performance of asset classes available through ETFs, sunk by more than 20 points, or 2.0%. Significant losses in all equity components were only [...] Click here to read the original article on ETFdb.com. Related Stories: Daily ETF Roundup: XLF Sinks, VXX Surges 9% Daily ETF Roundup: UNG Surges, VXX Sinks Daily ETF Roundup: GDX Sinks, UUP Surges