Daily ETF Roundup: PBW Sinks On Europe Woes, GLD Soars On Euro Drama

Stocks took a dive lower today as investors finally took profits following three consecutive days in bright green territory. The S&P 500 was off by 2%, while the NASDAQ fared a bit worse, down 2.26% on the day. This decline was a bit overdue considering the stellar equity market performance over the past few days coupled with the fact that Euro zone debt-woes remain largely unanswered as investors await for more guidance. “There’s always a concern about what is going to happen with Europe and how they are going to put together a deal that satisfies everyone,” said Robert Pavlik, chief market strategist at Banyan Partners. “The bottom line is, investors in Greek paper shouldn’t be thinking about a haircut; they should be worried about getting scalped.” Worse-than-expected corporate earnings results at home put additional downward pressure on equity indexes. Industry bellwether 3M Co. tanked over 6% on the day [...] Click here to read the original article on ETFdb.com. Related Posts: ETF Insider: Bulls In Drivers Seat ETF Insider: Which Way Will The Bulls Run? ETF Insider: All In Green Alternatives To The 20 Most Popular ETFs ETF Insider: Euro Zone Euphoria Here To Stay?