Worries about a few EU countries and the Euro currency have rattled global equity markets. Sovereign debt credit default swaps have been rising sharply for countries such as Greece and Portugal in recent days. Equity markets in Spain, Portugal, and Hungary are down more than 5% today alone.
Below we highlight the year to date performance and performance since the 1/19 peak for the major equity markets of 81 countries around the world. As shown, Spain is down the most year to date with a decline of 13.45%. Greece is second worse with a decline of 11.13%, followed by Puerto Rico, Jamaica, Slovakia, and China. Italy, Germany, and France are down more than 5% year to date, while the UK is down 4.87%. The US is down 3.58%, but it has been the second best performing G-7 country year to date behind Japan. Thirty-eight of the 81 countries are still up year to date, so things haven't gotten that bad everywhere. Latvia, Lithuania, and Estonia are all up more than 20%.