About those BRIC nations …

This year seen a bloodbath in the equity markets, BRIC nations included.

Brazil, the Bovespa ($BVSP) down 21% YTD, Russia, the RTS ($RTSI) down 38% YTD, India, the Sensex ($BSE) down 20.5% YTD and China, Shanghai Composite Exchange ($SSEC) down 24.2% YTD.

Since the generally accepted definition of a bear market is a decline of at least 20%, looks like the developing world is squarely in bear terrority.

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