Governments and central banks around the world are reacting to the expanding financial crisis as their countries' markets melt down. The US Congress passed the $700 billion dollar rescue plan, Australia had its biggest rate cut in 16 years, and Iceland has announced sweeping bank guarantees all in an attempt to shore up their economies and avoid a global depression.
On a year-to-date basis, the BRIC (Brazil, Russia, India, and China) markets have been hit hardest, with three of four of them being the worst performers. Brazil is not far behind. Here is a list of some of the world indices and how they stack up.
While still down nearly 25% YTD, the Dow Jones , is actually one of the better performing global indices. YTD, only two components of the Dow are up: JP Morgan Chase is up .8% and Wal-Mart is up 21.8%. GM , on the other hand, is down 65.9% YTD.
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