Seven of eight indexes on our world watch list posted gains through January 20, 2023. The top performer is Hong Kong's Hang Sent with a YTD gain of 11.44%. France's CAC 40 is in second with a YTD gain of 8.07%, and Germany's DAXK remains in third with a YTD gain of 7.97%. Coming in last for the third straight week is India's BSE SENEX with a loss of 0.36% YTD.

Here are all eight world indexes in 2022 and the associated table sorted by YTD.

World Indexes and Recent Recessions

Let's start with a very recent chart with the latest recession. We've used February 3, 2020 for our start date (this is the official NBER recession start).

The chart below illustrates the comparative performance of World Markets since March 9, 2009. The start date is arbitrary: The S&P 500, CAC 40 and BSE SENSEX hit their lows on March 9th, the Nikkei 225 on March 10th, the DAXK on March 6th, the FTSE on March 3rd, the Shanghai Composite on November 4, 2008, and the Hang Seng even earlier on October 27, 2008. However, by aligning on the same day and using a log scale vertical axis, we get an excellent visualization of the relative performance. We've indexed each of the eight to 800 on the March 9th start date. The callout in the upper left corner shows the percent change from the start date to the latest weekly close.

Here is the same visualization, this time starting on October 9, 2007, the closing high for the S&P 500, a date that is approximately the mid-point of the range of market peaks, which started on June 1st for the CAC 40 and ended on January 8, 2008 for the SENSEX.

For a longer look at the relative performance, our final chart starts at the turn of the century, again indexing each at 800 for the start date.

More By This Author:

CB LEI: 10th Consecutive Decline In December, Recession Signal Continues
Margin Debt Down 5.8% In December
S&P 500 Snapshot: Friday Ends Up 1.89%