With the Italian election effectively in an impasse, due to the fact that Silvio Berlusconi
has enough votes to block the election of his rival, investors are starting to get spooked about Europe.
This has led to losses for a number of funds based on MSCI indices, according to Barron's
For example, three funds managed by iShares
all suffered losses Monday: the iShares MSCI Italy Capped Index Fund
; which trades throughout the U.S. session, including when European markets are closed, slumped 4.9 percent as of Monday afternoon; the iShares MSCI Spain Capped Index Fund
was down 4.1 percent, and iShares MSCI EMU Index Fund
, was down 2.6 percent.
Meanwhile, a fund managed by Vanguard
, the Vanguard MSCI Europe ETF
was down 2.3 percent.
For more on how the Berlusconi impasse is affecting such Europe-focused funds, turn to Barron's
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