The Wall Street adage "Sell in May and go away" chronicles the historical underperformance of stocks during the summer months.
True to form, the MSCI World Index has slipped 0.74 percent since May on the back of volatility sparked by Greece's debt crisis and the selloff in China's equity market. The relentless slide in metal prices and mixed U.S. economic data, which have raised concerns about growth, also kept traders nervous.
In the U.S., the Dow Jones Industrial Average was the sole laggard with a loss of nearly 1 percent since May. The S&P 500 index edged up 0.79 percent, while the Nasdaq Composite climbed 3.26 percent on the back of soaring share prices in key heavyweights such as Apple.
Meanwhile, the pan-European STOXX 600 index has eked out gains of 0.3 percent since the start of the second quarter, but the MSCI Asia Pacific Index slumped 7.3 percent over the same period of time.
So tell us in this week's "Trader Poll": How are you trading for the rest of summer?