The U.S. stock market is well on its way to better-than-average gains this year, but a quick glance at overseas markets reveals a more sobering story.

Global stock markets are having a tough 2018, beset by a barrage of trade and tariff headlines, softer GDP data from economic powerhouses like China and a more expensive U.S. dollar.

While the S&P 500 is up more than 6 percent, the iShares MSCI China exchange-traded fund is down more than 12 percent so far this year. The iShares China ETF – like others managed by financial giant BlackRock – tracks the results of an index of country-specific stocks.

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