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- Markets were recently selling off after the International Monetary Fund cut its economic forecast for the global economy, pointing to weakness in Asia and Europe, reports Alex Veiga for the Associated Press.
- International traders were especially wary of European economies relapsing into a another recession.
- Furthermore, the sell-off was exacerbated by poor U.S. economic data.
- “Global risk aversion is persisting amid exacerbated global growth concerns, fueled by yesterday’s surprising decline in US retail sales,” Charles Schwab said in a note, the Economic Times reports.
- “Moreover, a flare-up in Greek debt concerns, festering Ebola fears, and heightened geopolitical concerns are adding to the dampened global mood,” Charles Schwab analysts added.
Market Vectors MSCI International Quality Dividend ETF
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Max Chen contributed to this article.