Legendary investor Jim Rogers has a lot to say. Our call of the day looks at his big warning for the markets and for ETF holders in particular.
The single currency and European stocks slipped on Monday after the bloc's most powerful leader German Chancellor Angela Merkel won a fourth term but faced a fractured parliament as support for the far-right surged. Investors were unnerved by the prospect of months of coalition talks which could distract from negotiations with Britain over its divorce from the European Union and efforts to integrate the bloc's remaining members. Political uncertainty also weakened the New Zealand dollar as the ruling National Party won the largest number votes in a weekend election but failed to secure a ruling majority, with a protracted period of coalition building now a possibility.
European stocks are drifting modestly lower Monday as investors pick through the pieces of a potentially significant weekend in regional politics.