Daily ETF Roundup: Stocks Tumble On Obama's Aggressive Tax Stance

As has been the trend since President Obama's re-election, bearish momentum continued to dominate Wall Street, sending U.S. equities tumbling once again today. Late last night, Obama reinforced his solution for the U.S.'s deficit reduction, taking a tough stance and drawing anaggressiveline on his policies, which include $1.6 trillion in new tax revenues. While some believe that a tax hike is a necessary step that Congress must take, others criticize that the looming rise of taxes and government spending cuts will ultimately push the U.S. back into a recession took the biggest slide, logging in a loss of 1.45%. The S&P 500 and Nasdaq dropped 1.38% and 1.29% during the session, respectively. Sour Euro-zone industrial production data combined with poor GDP figures from Portugal and Greece sent European equities into a tailspin. Asian markets, however, inched slightly higher; Japan's Nikkei Stock Average was up less than 0.1%, while China's Shanghai Composite ticked 0.4% higher . Bond ETF Roundup

U.S. Treasures rose once again today after the release of the minutes from the last Federal Reserve policy meeting indicated that the central bank will likely continue its purchasing of U.S. government debt in 2013. And with fiscal cliff fears at an all time high, investors will likely keep their assets parked in their favorite safe haven.

Commodity ETF Roundup

Crude oil prices closed higher today after escalating tensions in the Mideast had traders worried about potential supply disruptions. Meanwhile, other commodity prices ended mixed, with gold, silver, corn and soybeans edging higher and copper and wheat futuresclosinglower.

ETF Chart Of The Day #1: XRT

The State Street SPDR S&P Retail ETF was one of the worst performers today, shedding 1.23% during the session. Investors finally began to see the impacts of hurricane Sandy as retail sales for the month of October were reported to drop 0.3%, forcing this ETF to tumble following the report. XRT inched lower throughout the day, eventually settling near its low of $60.07 a share .

ETF Chart Of The Day #2: EIS

The iShares MSCI Israel Capped Investable Market Index Fund was also one of the worst performers, shedding 2.52% on the day. Investors kept a close eye on the Middle East today, after an Israeli airstrike killed a military commander of Hamas, escalating geopolitical tensions. As a result, EIS plummeted at the open, and continued to inch lower throughout the day. The fund eventually settled at $39.86 a share.

ETF Fun Fact Of The Day

The best performing regional strategy in the trailing 13-week period is our Ex-U.S. ETFdb Portfolio; this strategy is up 3.48%.

Disclosure: No positions at time of writing.