Here's a quick update on last week's global market actions:
- Last week was another rough week in global equity markets, but it's nothing that we haven't seen in the summer before. So, seven months into the year, the world stock market (MSCI ACWI: +1.6% YTD) is pretty much flat for the year.
- Emerging Markets have once again held up better in the correction, closing the gap that existed this year between Developed and Emerging Markets. The US (MSCI US) is now only up 3% YTD, falling back in line with many European countries that are currently up about the same.
- Small and Mid Caps were down a whopping 5% last week, knocking many sectors down for the year. Financials are now down 7% YTD, while Energy leads, up 11% for the year. 4 out of 10 US Sectors are now negative for the year, which you can see in the table below.
Data provided by Thomson Reuters.
Click here to view today's complete World Wrap report.
Keith Hays & Justin Wood
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