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Most global stock markets decline in June
Posted by Yogesh on Saturday, 14 June, 2008
NEW YORK – The pullback in stock markets around the world that began last month has left only three of 52 markets tracked by Standard & Poor’s/Citigroup global equity indices with advances so far in June.
Investors have variously grappled with concerns about slowing economies, particularly in the U.S., and with rising prices oil, gasoline to food.
The three markets to show gains in June through Thursday � Jordan, Pakistan and the Czech Republic � are all emerging markets. The performance echoes what was seen in January, when 50 of 52 markets declined.
Emerging markets, which tend to be more volatile than more established markets, are down 6.45 percent this month and 8.72 percent this year.
In developing markets, China is down by 8.83 percent. And in India and South Africa, where interest rates have increased, stocks are down 8.55 percent and 9.65 percent, respectively.
In developed markets, the average decline is 5.99 percent for June and 9.83 percent for the year. In the U.S. the benchmark S&P 500 index is down 8.75 percent in 2008.
All told, in June, more than $2 trillion has been lost in the world markets. Source CNBC
