According to Standard & Poor’s, the developed world’s equities – measured by the S&P/Citigroup Developed World Index – fell 2.38% in April, following a 1.98% loss in March (see World Equities Tumble In March ).
North American equities suffered the largest drop, shedding 2.49% during April, followed by markets in Europe, registering a loss of 2.38%, and Asia-Pacific, dropping 1.99%. Year-to-date, the regions are in the same order, dropping 4.18%, 1.76%, and 1.49%, respectively, in US Dollar terms, making their combined year-to-date return -3.03%, S&P reports. Continuing the trend begun in March, large-cap stocks outperformed small-caps; with developed world issues over $10 billion slipping 1.86%, more than twice the 3.78% loss by those in the less than $2 billion segment.
The S&P/Citigroup Global Composite Index has registered a loss of 2.99% through April, and emerging markets have not done much to help that, losing 2.16% year-to-date. However, European markets, after taking a significant hit in April of 3.80%, are still up for the year with a 1.20% gain.
All developed Asia-Pacific currencies appreciated against the Dollar during the month, and S&P said that currencies weren’t as large a role as in previous months, although exceptions were seen in Japan and the United Kingdom where the measured returns of the US Dollar were 1.86% and 1.05% stronger, respectively, than local currency returns.
The full S&P/Citigroup World by Numbers Report for April can be accessed in by going to www.standardandpoors.com .