The BRIC's are falling like…bricks

Back in October 2003 a report from Goldman Sachs highlighted the four countries of Brazil, Russia, India and China termed the BRICs would be a hugh force in the world economy.  5 years later the term has stuck and the 4 countries have made some big progress as predicted in the report which can be downloaded here.

However, the equity markets in all 4 countries are getting slammed.  You talk to people in India and they are wondering how it could happen to them.  The reality is EVERY equity investor worldwide is getting killed and India ain’t so bad when compared to most other countries, as I call it “the cream of the crap.” Let’s take a look at each BRIC:

Brazil (Bovespa)
52 week high – 73,920
52 week low – 47,606
Sept 12, 2008 – 52,392.86
DOWN 29.1%

Russia (Traded Index)
52 week high – 3717.03
52 week low – 1858.89
Sept 12, 2008 – 1991.10
DOWN 46.4%

India (Sensex)
52 week high – 21206.80
52 week low – 12515
Sept 12, 2008 – 14000.81
DOWN 33.9%

China (Shanghai SE Composite)
52 week high – 6,124.04
52 week low – 2,199.36
Sept 12, 2008 – 2,079.67
DOWN 66%

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