by Bespoke Investment Group
Although US equities have been under near constant selling pressure since the beginning of May, they have been holding up relatively well compared to the rest of the world. The table to the right shows the change in major international benchmark indices on a YTD basis. In local currency terms, US stocks have outperformed every other G-7 country besides Germany as well as all four BRIC countries.
These numbers are somewhat misleading, however, as they do not take into account the decline in the US Dollar so far this year. After adjusting for the dollar's slide, US equities lose a bit of their luster. While US stocks are still outperforming all of the BRIC countries, they are underperforming every other G7 country except Canada and the UK.
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