“A wave of selling caused many exchange traded funds to tumble below the value of their underlying assets as a bond market sell-off caused stress in the $2 trillion ETF industry. Emerging-markets ETFs were among the worst affected, as investors took fright that the end of Federal Reserve monetary easing would lead to outflows from developing countries. The selling also caused disruptions in the plumbing behind several ETFs. Citigroup stopped accepting orders to redeem underlying assets from ETF issuers, after one trading desk reached its allocated risk limits. State Street said it would stop accepting cash redemption orders for municipal bond products from dealers.”
http://www.cnbc.com/id/100833270
Related posts:
Peter Schiff v. Larry Kudlow: What Gold's Drop Signals for America's Future
France passes 75% 'millionaire's tax'
He Struck It Rich in Ecuador. Now He’s Looking for the Lost Cities of Gold
Will Overstock Force IRS To Make Up Its Mind About Bitcoin?
Nineteen ICE agents call for dissolution of agency
Can Indian Temple Gold Help the Rupee?
Spain: This Is What A Permanent Underclass Looks Like
Fighting marijuana ... or reality?
Why Did Lavabit Founder Shut Down His Company?
UK 'Google tax' will target inter-company payments
'Anything That Moves': Civilians And The Vietnam War
How the U.S. DEA program differs from recent NSA revelations
Oil Nations Put Out Welcome Mat for Western Companies
JPMorgan Bribe Probe Said to Expand in Asia as Spreadsheet Is Found
President Obama: 'I Have Not Made a Decision' on Syria