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US Losing Out

Since the Nasdaq index rolled over into its current downward trend on March 20th, American equity markets' share of world market capitalization have fallen dramatically.  The chart below shows US share of all world equity market values for the last year.  You can see the big spike up that we saw earlier this year and the big drop down that wiped it all out over the last few weeks.

Losses for US equity investors have meant gains for investors overseas.  Emerging markets, especially, have been benefactors.  The following charts show the market share of Brazil, India and Turkey. 

To give a full picture of how value has shifted globally, the below table shows the current share of world equity market cap and its change since March 20th when the US peaked.  The heatmap of the change is amazing...outside of the US, only Sweden and Greece have lost share over the past two weeks.

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