by Jon S. Strebler
I’m halfway joking when mentioning the “Sell in May, buy back on Labor Day” rule each summer. But only halfway, because of times like August, 2015. China really started the ball rolling with its currency devaluation (I guess the Greece mess was just a minor diversion after all), but soon that gathered many followers. In the end, August was the worst month for Asian equity markets in 3 years; the worst month for European stocks in 4 years; and the worst month for the Dow Jones Industrial Average in 5 years.
Let’s see just how much damage August created for markets around the world, starting at the source with China’s Shanghai index:
In hindsight, the Shanghai index had a great run from mid-2013 until breaking below the blue trendline a couple of months ago. Its most recent decline, breaking below the key low of 3375, as shown by the ... Log in or subscribe to continue reading.