Similarly, emerging markets, which also tend to be vulnerable to changing monetary conditions, particularly when they manifest in a stronger dollar, also declined more than 10%, as measured by the MSCI Emerging Markets Index.
As markets remain volatile and market segment performance diverges, I continue to advocate that investors look for those parts of the stock market offering relative value, including large caps and select international markets. You can read more about where to find relative value in my latest Investment Directions monthly market outlook.
Sources: Bloomberg, BlackRock research
Russ Koesterich, CFA, is the Chief Investment Strategist for BlackRock and iShares Chief Global Investment Strategist. He is a regular contributor to The Blog and you can find more of his posts here.