May was a challenging month for the markets and both domestic and global exchange traded funds (ETFs). Debt concerns in Europe weighed heavily, though by the end of the month, there was optimism that it would be resolved.
For the month, the Dow Jones Industrial Average lost 8.2%, its worst month since February 2009. The Nasdaq fell 8.7% and the S&P 500 declined 8.6%. The S&P 500 also dropped below its long-term trend line (the 200-day moving average) in May for the first time in 10 months.
Safe-haven investments were largely the order of the day, with many investors sticking to gold, the U.S. dollar and Treasuries while shunning the euro, European equities and other investments perceived as being risky.
To view our complete May ETF Performance report, click here.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.