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Thursday, October 1, 2015

Pretty much every financial asset got hammered in Q3

It's the first day of October and with the third quarter over, a lot of analysts are taking a moment to have a glance back, shudder a little bit and appreciate how thoroughly awful the three months from July to September were for investors. It kicked off with Greece's crisis, saw massive sell-offs in emerging market stocks, not to mention "Black Wednesday," when a particularly bad day in Shanghai that rippled around the world. Despite the US Federal Reserve's decision not to hike rates in September, even US equities haven't performed. There was some money to be made, particularly on European government bonds, and some US bonds held up well. But pretty much everything else has been a nightmare. The chart comes from Jim Reid at Deutsche Bank's early morning email. Here's how it looks: Equities around the world slumped in dollar terms (and mostly in local currencies too) — even the FTSE MIB, the best index included here, fell by about 5%. The worst-affected, like Hong Kong's Hang Seng, China's Shanghai Composite and Brazil's Bovespa, saw wipeouts of 20-30%. Commodities have plunged too — oil, copper and wheat sold off, and even commodities that would often be considered safe havens when others are crashing recorded a drop, like gold and silver. Reid calls it "a Q3 to forget." Here's to a better Q4. Join the conversation about this story » NOW WATCH: The one thing you can add to coffee for even more energy in the morning


READ THE ORIGINAL POST AT www.businessinsider.com