ETF Trends
ETF Trends

Exchange traded funds tracking the euro and global stocks fell sharply Monday as fresh credit jitters shook markets in Italy and Spain.

CurrencyShares Euro Trust (NYSEArca: FXE) plunged nearly 2% on concerns the Eurozone debt crisis is spreading to the weaker nations in the periphery. Reports that European officials are resigned to at least a partial default on Greek debt also rattled nerves Monday. [Euro ETFs Dive]

SPDR S&P 500 ETF (NYSEArca: SPY) was down 1.5% at last check as investors also sold U.S. stocks. In sectors, PowerShares Dynamic Media (NYSEArca: PBS) slipped as top holding News Corp. (NasdaqGS: NWSA) tumbled 6% on reports the company is withdrawing its bid for BSkyB.

Volatility-linked ETFs rose Monday along with Wall Street’s fear index. VelocityShares Daily 2X VIX Short-Term ETN (NYSEArca: TVIX) rallied 14%.

CurrencyShares Euro Trust

The opinions and forecasts expressed herein are solely those of John Spence, 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.