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Stocks Even Worse Overseas

US investors rush out of foreign markets

By Matt Cantor, Newser Staff

Posted Nov 29, 2008 9:30 AM CST

(Newser) – The US stock market has seen its worst year in decades—but things have been even worse in Europe and Asia, the Wall Street Journal reports. While the Dow is down 33% for the year, Germany’s DAX index has fallen 42% and China’s Shanghai Composite has plummeted 64%. The Dow Jones World Index, excluding the US, is down 49%, a sign of how global markets move in sync during times of crisis, the Journal notes.

Foreign markets saw a boost when a healthy business climate encouraged wide-ranging investing. But when things began to turn sour, investors rushed to withdraw those funds. From July to September, US investors sold $92 billion more foreign stocks and bonds than they bought—an all-time record, the Journal notes. Meanwhile, Americans’ foreign losses have ballooned with the power of the dollar.

An investor leaves as he looks at stock price monitor at a private securities company Friday, Nov. 28, 2008 in Shanghai, China. (AP Photo/Eugene Hoshiko)

A broker watches trading results at the stock exchange in Frankfurt, central Germany, Thursday, Oct. 23, 2008. (AP Photo/Daniel Roland)

People smoke outside the Royal Exchange building in central London's City financial district, Thursday, Nov. 20, 2008. (AP Photo/Lefteris Pitarakis)

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US investors rush out of foreign markets

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Dow Down 700, Hits 4-Year Low

'This is just about fear right now'

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Insurer has shot up 97% in 2010

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Investors are not sold on financial recovery, it seems

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Yes, even worse than the 1930s

Give Thanks We're Not Thanking Wall St.

Be grateful for new skepticism on financial industry

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US investors rush out of foreign markets

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OTHER STORIES ON OUR RADAR

stock market • foreign market • global market • financial crisis

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Dow Down 700, Hits 4-Year Low

'This is just about fear right now'

AIG's Stock Up 97%: Success Story of the Year?

Insurer has shot up 97% in 2010

Small Investors Flee Wall St. in Hordes

Investors are not sold on financial recovery, it seems

Stocks Finish Worst Decade Ever

Yes, even worse than the 1930s

Give Thanks We're Not Thanking Wall St.

Be grateful for new skepticism on financial industry

About Us

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Newser By Users

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What is Newser?