The Shanghai Composite Index is down 23% since peaking in November. Markets in Brazil, India and Japan are down for the year as well.
Yes, the U.S. stock market is pulling back -- and sharply so. But it could be worse.
Ask Chinese investors, where the Shanghai Composite Index lost 5% today and is now down 21.9% for the year. It's also down 23% since peaking in November.
Or investors in Brazil, where the Bovespa Index is down nearly 15% since hitting a closing high for the year on April 8.
Or even Japan, whose Nikkei 225 Index ($JP:N225) has fallen 9.7% since its April 5 closing high and is now down 3% for the year.
Stock markets around the world have been tumbling since the European debt crisis (let's admit it: It's bigger than Greece) truly erupted in April.
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