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Written by Murray Coleman
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Friday, 03 October 2008 13:51 |
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Page 2 of 2
Still, he sees that cheaper labor and production costs in developing eastern and central Europe should keep those markets competitive. "That's especially true if developed markets continue to decline," VanderPal said. "Companies will still want to choose the lowest-cost provider as cost pressures rise."
China and Russia were both down more than 46%. "Most of the damage in those markets was done in the past three months," said S&P's Silverblatt. "Sagging oil and commodities prices in the third quarter took away from these markets. But these have been and continue to be very volatile developing markets."
The bottom line, he adds, is that "while the U.S. has gotten a cold, the rest of the world has gotten the flu."
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STANDARD & POOR'S BROAD MARKET INDEXES (BMI)
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(Stock change)
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REGION
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YTD
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SEPT
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AUG
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JUL
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3-MO SEPT
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Emerging Markets
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-36.80%
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-18.76%
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-7.38%
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-4.28%
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-27.98%
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AVERAGE
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-30.35%
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-15.05%
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-7.09%
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-2.23%
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-22.63%
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Pakistan
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-52.18%
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-4.12%
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-22.99%
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-16.47%
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-38.33%
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India
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-50.34%
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-18.10%
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-2.09%
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7.96%
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-13.42%
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Russia
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-46.85%
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-24.07%
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-14.05%
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-16.53%
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-45.52%
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China
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-46.35%
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-20.76%
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-7.71%
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1.72%
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-25.61%
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Slovenia
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-46.15%
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-19.89%
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-10.40%
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-1.70%
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-29.44%
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Turkey
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-39.74%
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-15.56%
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-4.49%
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21.87%
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-1.72%
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Philippines
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-37.71%
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-6.67%
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0.24%
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6.94%
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0.04%
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Indonesia
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-36.20%
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-20.40%
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-5.35%
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-3.78%
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-27.51%
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Malaysia
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-35.38%
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-9.41%
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-9.27%
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-2.79%
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-20.10%
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Taiwan
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-33.59%
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-21.00%
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-3.68%
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-7.05%
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-29.26%
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Thailand
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-32.85%
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-12.96%
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1.16%
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-13.92%
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-24.20%
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Egypt
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-32.82%
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-17.03%
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-8.41%
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-7.94%
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-30.04%
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Poland
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-31.37%
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-12.86%
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-13.75%
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7.66%
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-19.08%
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Brazil
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-31.09%
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-23.42%
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-11.44%
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-8.17%
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-37.72%
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South Africa
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-30.02%
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-15.61%
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-3.05%
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0.77%
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-17.56%
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Hungary
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-29.96%
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-17.84%
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-12.73%
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11.18%
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-20.28%
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Peru
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-28.14%
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-13.69%
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-7.28%
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-13.39%
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-30.69%
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Argentina
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-25.38%
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-22.64%
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-10.12%
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-15.86%
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-41.50%
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Czech Republic
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-24.15%
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-20.82%
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-7.59%
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-5.89%
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-31.14%
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Nigeria
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-22.65%
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-5.49%
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-7.74%
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-2.71%
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-15.17%
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Chile
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-21.12%
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-12.09%
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-5.65%
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4.62%
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-13.23%
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Mexico
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-19.52%
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-11.45%
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-4.52%
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-4.56%
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-19.31%
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Colombia
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-16.28%
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-13.21%
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-1.40%
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5.08%
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-10.08%
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Israel
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-14.84%
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-9.44%
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-0.43%
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-7.43%
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-16.53%
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Morocco
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-5.34%
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-14.02%
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-6.99%
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-0.55%
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-20.47%
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Jordan
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0.96%
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-8.86%
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-4.54%
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2.98%
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-10.41%
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Source: Standard & Poors Index Services; data through Sept. 2008
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STANDARD & POOR'S BROAD MARKET INDEXES (BMI)
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(Stock change)
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REGION
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YTD
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SEPT
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AUG
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JUL
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3-MO SEPT
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World Ex. U.S.
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-30.90%
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-14.80%
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-4.30%
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-3.86%
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-21.62%
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World
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-25.73%
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-12.19%
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-2.27%
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-1.93%
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-15.84%
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AVERAGE
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-36.83%
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-18.73%
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-4.52%
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-4.62%
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-25.81%
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Iceland
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-69.17%
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-39.13%
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-1.57%
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-6.82%
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-44.18%
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Ireland
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-51.66%
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-25.30%
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-3.93%
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-15.79%
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-39.57%
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Belgium
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-45.19%
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-23.50%
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-1.07%
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-7.12%
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-29.71%
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Finland
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-45.11%
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-23.40%
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-5.43%
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-0.14%
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-27.66%
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Greece
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-43.66%
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-17.28%
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-8.11%
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-1.94%
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-25.46%
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Austria
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-43.23%
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-29.17%
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-5.44%
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-10.05%
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-39.76%
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Norway
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-42.79%
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-31.90%
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-2.77%
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-10.91%
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-41.01%
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Portugal
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-41.49%
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-10.66%
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-4.43%
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-6.12%
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-19.84%
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Hong Kong
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-41.46%
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-18.23%
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-5.76%
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-1.62%
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-24.19%
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South Korea
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-40.35%
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-11.29%
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-12.78%
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-3.23%
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-25.12%
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Italy
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-37.72%
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-15.72%
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-3.79%
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-4.25%
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-22.36%
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New Zealand
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-37.67%
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-14.17%
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-1.20%
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-0.97%
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-16.03%
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Luxembourg
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-36.37%
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-33.79%
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-10.19%
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-10.26%
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-46.64%
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Sweden
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-35.91%
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-19.42%
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-4.32%
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-0.91%
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-23.60%
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Australia
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-35.03%
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-18.17%
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-4.76%
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-7.38%
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-27.81%
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Netherlands
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-34.14%
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-18.79%
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-0.98%
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-3.46%
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-22.37%
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Singapore
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-33.81%
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-15.85%
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-9.64%
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-2.47%
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-25.84%
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Germany
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-33.75%
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-15.40%
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-5.20%
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-2.14%
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-21.51%
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United Kingdom
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-32.02%
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-15.09%
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-3.76%
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-3.94%
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-21.50%
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Denmark
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-30.79%
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-20.95%
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-3.61%
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-4.13%
|
-26.94%
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Spain
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-30.67%
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-10.53%
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-6.38%
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-3.34%
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-19.04%
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France
|
-30.32%
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-13.33%
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-2.92%
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-1.85%
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-17.41%
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Japan
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-23.24%
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-11.64%
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-4.09%
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-3.49%
|
-18.21%
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Canada
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-22.73%
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-15.23%
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-3.18%
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-6.65%
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-23.38%
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Switzerland
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-19.91%
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-9.60%
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-2.37%
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-1.49%
|
-13.06%
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United States
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-19.47%
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-9.29%
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0.08%
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0.40%
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-8.85%
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Source: Standard & Poors Index Services; data through Sept. 2008
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