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Friday, October 24, 2008

The Global Meltdown

by Calculated Risk on 10/24/2008 09:25:00 PM

Tom Petruno at the LA Times Money & Co. breaks it down: Many world stock markets now off 50% or more from peaks

Here's a club no country wants to join, yet its ranks are swelling: The 50%-Off (Or Worse) Stock Market Club.
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%).
Petruno has more. By comparison, the U.S. is holding up OK - so far. I guess we could call this global synchronized cliff diving!