The afternoon explosions at the Boston marathon precipitated a second wave of selling in the financial markets. The largest losses today were in sectors related to natural resources, such as gold and energy. The currently most out-of-favor international markets are Latin America and Eastern Europe. The top gainer was the Fidelity Spartan Long-term Treasury Bond Fund (FLBIX, change: 0.77%).
The greater than 10% drop in the gold sector is an unusually large sell-off that have not been seen in recent years. Gold is highly oversold now and ripe for a relief rally, but we continue to caution investors to stay away from this volatile sector.
Fidelity funds with the largest drops in today’s session:
|Fidelity Select Sector Funds||Change|
|Fidelity Select Gold (FSAGX)||-11.38%|
|Fidelity Select Natural Resources (FNARX)||-5.27%|
|Fidelity Select Energy Services (FSESX)||-5.07%|
|Fidelity International Funds||Change|
|Fidelity Global Commodity Stock (FFGCX)||-5.44%|
|Fidelity Latin America (FLATX)||-3.70%|
|Fidelity Emerging Europe, Middle East (FEMEX)||-3.27%|
Buy/sell signals for Fidelity funds are available at FidelitySignal.com