American stocks are holding their own compared to the rest of the world. Losses since the summer of 2007:
Here’s a sampling (not meant to be all-inclusive):
Markets down more than 70%: Vietnam (-70.5%), Peru (-73.2%), Ireland (-73.4%), Russia (-73.9%), Iceland (-88.7%).
Markets down between 60% and 70%: Hong Kong (-60.1%), Poland (-62.6%), China (-69.8%).
Markets down between 50% and 60%: South Korea (-54.5%), Italy (-55.2%), Egypt (-56.9%), Brazil (-57.2%), Japan (-58.1%), Singapore (-58.2%), Turkey (-58.5%), India (-58.3%).
Markets down between 40% and 50%: Great Britain (-42.3%), Australia (-43.3%), U.S.-S&P 500 (-44.0%), Spain (-46.4%), Germany (-47.0%), Mexico (-48.3%).
The euro is down to $1.262, a two-year low. Paris anyone?
I don’t see out neighbor, Canada, on this list. Anybody know how are they doing? I see they just re-elected a conservative (for them) Prime Minister, so things must not be going too badly.
Canada down about 35%. They have to be hurting from the price of oil, though. They’re by far our biggest supplier.
The markets matter less in a lot of these countries because fewer ordinary people are invested in them, and because in the more developed countries the social safety net is stronger.