The move, a serious blow to the Euro and Eurozone, will encourage others reevaluate their allegiance to the cause. Who will be the first to leave the Euro? It's only a matter of time.
Headline: Swiss sucker punch global markets
Stock futures on a roller coaster ride this morning because of something the Swiss did. Really. The Swiss National Bank (SNB) said they were abandoning the Franc -- Or "swissie" -- link to the euro. Analysts are still figuring out what this means on a global basis. The knee-jerk reaction was a 2% drop in U.S. stock futures before rebounding. If you think that's aggressive consider it in the context of a 30% spike in the price of a swissie tracked by the CurrencyShares Swiss Franc ETF (FXF) and an absolutely devastating drop in the Swiss stock market tracked by iShares MSCI Switzerland Capped (EWL)
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