| Index | Third Quarter Change |
|---|---|
| FTSE 100 | – 7.04% |
| FTSE All-Share | -6.57% |
| Dow Jones Industrial | -7.58% |
| Standard & Poor’s 500 | -6.94% |
| Nikkei 225 | -14.07% |
| Euro Stoxx 50 (€) | -9.45% |
| Hang Seng | -20.59% |
| MSCI Emerging Markets (£) | -15.42% |
It was the worst quarter for investors since 2011, but as ever, the raw numbers do not tell the whole story:
- The fall in the FTSE 100 has much to do with its exposure to mining and energy companies, which have suffered as commodity prices have fallen.
- UK Companies outside the FTSE 100 have fared better. The FTSE 250, which is a yardstick for mid-sized companies, fell by less than 5% – hence the lower drop for the broader FTSE All-Share than the FTSE 100.
- Sterling weakened against the main global currencies in the third quarter, reducing the impact of the fall in overseas markets.
- Emerging markets had a torrid time, but it is becoming increasingly clear that the label is too broad. For example, while the Shanghai Composite is now down nearly 30% from the start of the year, the BSE Sensex (India’s main index) has fallen less than 2%.