Michael Panzner is a twenty-five-year veteran of the global stock, bond, and currency markets and the author of three books, including Financial Armageddon and When Giants Fall: An Economic Roadmap for the End of the American Era, due out from Wiley in February 2009.
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Below are charts listing the performance of selected international benchmark indexes (in local currency terms, except for MSCI World, which is in US dollars), sorted by days since their record closing highs (except in the case of Japan, where its 5-year peak was used instead) and by net change from the peak.
Italy stands out as a market that has not only been in bear market for the longest time, but has also lost more than half its value since its May 2007 high. Canada, on the other hand, has been a relative bastion of strength, both in terms of how long it has been in a bear market and the losses so far.
Otherwise, three out of the four worst performers on the list are “BRIC” countries, which used to be everybody’s favorite growth story.
|
Date of Peak |
Change Since Peak |
No. of Days |
|
| Italy | 05/18/07 | -55.27% | 550 |
| France | 06/01/07 | -48.81% | 536 |
| Switzerland | 06/01/07 | -41.11% | 536 |
| United Kingdom | 06/15/07 | -39.08% | 522 |
| Japan | 07/09/07 | -54.39% | 498 |
| Germany | 07/16/07 | -44.24% | 491 |
| Netherlands | 07/16/07 | -56.34% | 491 |
| United States | 10/09/07 | -45.64% | 406 |
| China | 10/16/07 | -68.70% | 399 |
| Hong Kong | 10/30/07 | -59.18% | 385 |
| World | 10/31/07 | -50.39% | 384 |
| Australia | 11/01/07 | -48.41% | 383 |
| Spain | 11/08/07 | -47.48% | 376 |
| India | 01/08/08 | -57.18% | 315 |
| Russia | 05/19/08 | -76.32% | 183 |
| Brazil | 05/20/08 | -52.03% | 182 |
| Canada | 06/18/08 | -41.65% | 153 |
|
|
Date of Peak |
Change Since Peak |
No. of Days |
| Russia | 05/19/08 | -76.32% | 183 |
| China | 10/16/07 | -68.70% | 399 |
| Hong Kong | 10/30/07 | -59.18% | 385 |
| India | 01/08/08 | -57.18% | 315 |
| Netherlands | 07/16/07 | -56.34% | 491 |
| Italy | 05/18/07 | -55.27% | 550 |
| Japan | 07/09/07 | -54.39% | 498 |
| Brazil | 05/20/08 | -52.03% | 182 |
| World | 10/31/07 | -50.39% | 384 |
| France | 06/01/07 | -48.81% | 536 |
| Australia | 11/01/07 | -48.41% | 383 |
| Spain | 11/08/07 | -47.48% | 376 |
| United States | 10/09/07 | -45.64% | 406 |
| Germany | 07/16/07 | -44.24% | 491 |
| Canada | 06/18/08 | -41.65% | 153 |
| Switzerland | 06/01/07 | -41.11% | 536 |
| United Kingdom | 06/15/07 | -39.08% | 522 |
