International Benchmark Performance Since Highs

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
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