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Par Daniel Van Hove, CFA, Managing Director Bellatrix Investments S.A.
EQUITY MARKETS
U.S. equities, and consequently most equity markets in the world, suffered heavily during the month of May 2010. The S&P500 index dropped -8.20% to 1,089.41 and is posting a year-to-date performance of -2.30% in USD and +13.59% in EUR. The Dow Jones Industrial Average (DJIA) index had its worse month of May and fell -7.92% to 10,136.6 since 1940, as reported on Bloomberg.com. The Dow even dropped below 10,000 for the first time in three months. Putting this into perspective, the S&P500 index enjoyed a strong rally of +61% after reaching a 12-year low on 9 March 2009. This 13-month rally came to an abrupt end on 23 April 2010, and the index has fallen 11% in just 5 weeks. As...
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