Global Market Performance in October

This is a brutal list of market performers put together by Floyd Norris who is really a smart thinker at the NYT.

Take a  look:

“Here are some October performances, through a few minutes ago. In each case, I took a major index from the country in question. All figures are in U.S. dollars.

U.S., down 26%
Canada. down 37%
Mexico, down 44%
Argentina, down 43%
Brazil, down 48%
Chile, down 30%
Peru, down 42%

Britain, down 31%
Germany, down 35%
France, down 31%
Switzerland, down 20%
Italy, down 30%
Ireland, down 35%
Iceland, down 83%
Netherlands, down 35%
Belgium, down 37%
Denmark, down 35%
Finland, down 26%
Greece, down 45%
Poland, down 46%
Czech Republic, down 45%
Russia, down 53%
Hungary, down 50%
Lithuania, down 37%
Turkey, down 50%
South Africa, down 42%
Israel, down 22%

Japan, down 23%
Hong Kong, down 30%
China, down 21%
Taiwan, down 23%
South Korea, down 46%

Australia, down 34%

New Zealand, down 25%

India, down 36%

Singapore, down 35%

Spain, down 33%”

Two takeaways:  Obviously October has been an unmitigated disaster.  Norris points out the US Market was already way off its high at the beginning of the year.  This is a very precipitous drop that would imply that earnings are going to drop by some 50% in the coming year.  Does that make sense?  To some degree the implication here is that we are heading towards a protracted very, severe recession.

Second, the world is completely intertwined financially.  But the startup market is not.  Very few startups build products for a global market from the outset.  This of course is one reason Wikipedia is so successful. I’d like to see startups that are enabling the multilingual launch of products/services.  That’s a very attractive market when you consider Saul Klein’s recent slideshow about the state of the startup economy.

I think there will be a lot of money to be made in enabling simultaneous launches.  PlyMedia, an Israeli company (Greylock recently invested) with various video advertising solutions, claims they have their greatest traction in translation products.

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