Europe-linked ETFs fall as ‘second wave’ appears, on track for worst week in three months

/ / News

Exchange-traded funds with European stock exposure fell for a second day, putting them on track for their worst week since early June as coronavirus cases mounted and governments took steps to curtail economic activity to contain the spread. The iShares MSCI Eurozone ETF was down 0.7% at midday, while the iShares Core MSCI Europe ETF and the Vanguard FTSE Europe ETF both lost 0.6%. In the U.S., stock indexes were mixed: the broad-market S&P 500 was flat. European stocks haven’t enjoyed the same recovery from the market turmoil of the spring that domestic stocks have. The ETFs noted above have lost 10-11% in the year to date. That has prompted some analysts to recommend them as a value strategy, but a resurgence of the coronavirus might scuttle that idea.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.