Rochester, NY 7/25/2009 9:25:10 AM
iShares MSCI Emerging Markets Index EEM, Financial ETFs Plan to Dip Caused by Bank Plans.
EEM
During the recent rally profit-taking took a bite out. Report states that the four banks that passed the government stress test with good standing are planning to pay back government funds borrowed from the Troubled Assets Relief Program this is by issuing some of their shares. This move didn’t sit well with investors.
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The financial sector took big hits and the SPDR Financial Select Sector fund was one of the most heavily –traded tickers during this week’s early session. The iShares MSCI Emerging Markets fund also traded a higher than usual volume thanks, in part, to a Wall Street Journal front page story that said investors were pumping money into those overseas markets.
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