New post added at News Channel 365 - Emerging Markets Slip as Dow Strengthens; El-Erian Sees Russia, Others Suffering in Great ‘Divergence’Source: blogs.barrons - Wednesday, December 24, 2014 Former Pimco CEO Mohamed El-Erian addresses the “divergence” of developed and developing worlds on Bloomberg TV. As the Dow continues to rise past a milestone at 18,063, emerging market stocks slip, with the iShares MSCI Emerging Markets ETF ( EEM ) down 3 cents at $38.99 , the iShares MSCI BRIC ETF ( BKF ) down 21 cents, or 0.6%, at $34.52, the Wisdom Tree India Earnings Fund ( EPI ) down 15 cents, or 0.7%, at $21.66, and the iShares MSCI Brazil Capped ETF ( EWZ ) down 14 cents, or 0.4%, at $36.34. There are pockets of health, with the iShares MSCI Turkey ETF ( TUR ) up 25 cents, half a percent, at $54.59. A highlight of the selling pressure is the Chinese market, where the Market Vectors China ETF is down 65 cents, or 1.5%, at $41.90, as China’s stock market experienced its biggest two-day loss since the summer of 2013, the Shanghai Composite Index falling 2%, and the China CSI 300 Index falling 2.8% to 3,230.39, as Bloomberg ’s Weiyi Lim notes . Former Pimco CEO Mohamed El-Erian commenting on Bloomberg Television early today , was asked about the “divergence” of the developed world and the emerging world. Front and center was sliding oil prices . “It may tip certain countries over,” said El-Erian of the commodity’s decline, the three most prominent names being Russia , Venezuela , and Nigera . Addressing debt contagion, El-Erian remarked that Greece , in particular, “has a fundamental issue that it has to deal with, which is eAll Related
Posted on: Thu, 25 Dec 2014 21:12:30 +0000
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