The big fall in global equity markets in May and early June has given investors something to think about. After a rally in markets since October 2002, equities had by June 10 fallen from their peak on May 9 by more than 11%. Since this is more than 10%, technical analysts like to call it a correction.
Japan and Europe fell by 17% and 12%, respectively, much more than the US (down 6%). But it was emerging markets that took the biggest hit, down 20%.
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