While the US market is officially in bear territory, international markets have fared much worse. They were hot over the past 5 years, but the past year has been dreadful. While the US market has lost just over 20% from it's one year high, European markets have lost 25-30%, and the "emerging" markets of Brazil, Russia, India and China have lost between 30-65% of capital from their 52 week highs.
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