ETF Trends
ETF Trends

Exchange traded funds tracking European equities have been thumped by the credit crisis with portfolios indexed to Italy and Germany leading the declines among single-country funds.

The iShares MSCI Germany (NYSEArca: EWG) and iShares MSCI Italy (NYSEArca: EWI) are down 31.9% 34.7% for the three months ended Sept. 9, respectively, according to Morningstar. European ETFs were set for a sharply lower open in the U.S. on Monday on lingering worries Greece may default. [Stock ETFs Tumble on Greek Debt Fears]

Banks and the financial sector were under pressure across Europe.

The Germany ETF slipped 3.1% in Monday’s preopen trading. [Germany ETF Underperformance Suggests Trouble for Euro]

German Chancellor Angela Merkel is preparing the country for a Greek default, Bloomberg reported.

iShares MSCI Germany

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.