The problems in the European Union seem to be getting worse by the day. Investors are now looking at France as another weak link in the already broken European Union. The iShares MSCI France Index Fund (NYSE:EWQ) has been plummeting lower since early May. Today the EWQ traded lower by 0.79 cents to $23.97 a share. The EWQ is short term oversold at the moment, however, the trend is down and the index is trading below all of the major moving averages. If the EWQ does not bounce soon the problems in the European Union are going to get a lot worse.
Other leading European stock indexes that are trading lower this afternoon include iShares MSCI Spain Index (NYSE:EWP), iShares MSCI Germany Index (NYSE:EWG), and iShares MSCI Italy Index (NYSE:EWI). All of these indexes are short term oversold at the moment, however, that does not mean they cannot trade lower. Yes, there is blood in the street right now, this is a vampire market.
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