Making a big ruckus in this morning's news is the European Court of Justice's ruling that deemed a 15-year-old data-sharing pact between the EU and U.S. invalid. The decision cannot be appealed.
"Legislation permitting...access on a generalized basis to the content of electronic communications must be regarded as compromising the essence of the fundamental right to respect for private life," Europe's highest court said in a statement.
The ruling has significant implications on how internet groups can operate in the 28-member bloc, and will likely force thousands of companies to overhaul their businesses to avoid breaking the law.
The iShares Exponential Technologies ETF (NYSEARCA:XT), based on an idea from Edelman Financial Services, is designed to provide global exposure to companies identified as leaders across key areas of technological transformation.
Other broad global technology ETFs: IPK, IXN, ARKQ
Among those cut is the SPDR Barclays Capital Aggregate Bond (NYSEARCA:LAG), which now charges 0.1% per year, down from 0.21%, and making it more competitive with AGG and BND.
SSgA's (NYSE:STT) ten international ETFs - a group including IPD, IPW, and IPK - now have annual fees of 0.4% vs. 0.5% previously. The emerging markets ETFs' - including EDIV and GML - new expense ratios are 0.49%, down from 0.50-0.59% previously.
Some of the fee reductions are more dramatic: The SPDR 1500 Value Tilt ETF (NYSEARCA:VLU) and the SPDR S&P 1500 Momentum Tilt ETF (NYSEARCA:MMTM) are cut to 0.12% from 0.35%, and the SPDR Russell 2000 Low Volatility ETF (NYSEARCA:SMLV) is cut to 0.12% from 0.25%.
The ARK Genomic Revolution Multi-Sector ETF (NYSEARCA:ARKG) is an actively managed fund that focuses on companies linked to the genomic industry across a number of sectors.
The ARK Innovation ETF (NYSEARCA:ARKK) will cover all three investment themes ARK now offers ETF coverage of; industrials through the ARK Industrial Innovation ETF (NYSEARCA:ARKQ), technology through the ARK Web x.0 ETF (NYSEARCA:ARKW) and genomics with ARKG.
While broader equity markets are only seeing modest declines, tech stocks aren't so lucky. The Nasdaq-100 (QQQ -0.8%) had its lowest print since October this morning before recovering slightly.
Chinese tech stocks (KWEB -4.3%), including 2013 solar high-flyers (TAN -4.2%), are especially hard-hit following a Shanghai selloff triggered by PBOC withdrawals. Other Internet (PNQI -2.3%) and social media (SOCL -2%) stocks aren't faring much better.
Will earnings season come to the rescue? Intel and Yahoo report after the bell today, and Google and IBM after the bell tomorrow.