The Australian share-market had a shocker of a week, down over 2.5%. The downturn was blamed on fear of the UK leaving the European Union. But, as noted in our sister publication Wry & Dry, the market had become very over-valued, and was looking for a reason, any reason, to correct.
The US market also fell, but not as much, down about 1.8%. But the reasons are the same - an over valued market looking for a reason to correct.
This week (All Ordinaries Index)
FYTD (All Ordinaries Accumulation Index)
For the FYTD, it's looking a lot like a flat year. The strong run since the end of February has come to a shattering halt.