Last week was quite the week in equity markets across the world, and the below points are some of the key trends that have now developed:
- The World is now down 7.1% for the year, the US is down 4.6% year-to-date and the World x US is down 9.1% for the year.
- Emerging Markets are down 9.6% for the year and Frontier Markets are down 13% year-to-date.
- Germany was down 14% last week, the worst of the G7 Countries. Now, the US leads the Group of 7 for the year.
- Russia is now the only BRIC with positive returns over the past one year.
- Due to the correction, Large Caps have held up the best and the gap has closed between all market caps.
- Energy was down 10% last week, and Basic Materials and Financials were down over 9% last week. The defensive sectors held up the best. Utilities, Staples and Healthcare are the only sectors with positive returns year-to-date...at least for today.
Keith Hays & Justin Wood
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