(Reuters) – Global stocks are looking oversold, with 63 percent of shares in “bear” market territory, up from 58 percent last week, Bank of America Merrill Lynch (NYSE:) said on Friday.
The bank’s analysis showed that 1742 of 2767 global stocks had fallen 20 percent off peaks, while in emerging markets the figure was as high as 919 out of 1150 stocks — 80 percent of the total. Of 1899 New York stocks, 1164 or 61 percent, were in the “bear” bracket.
World stocks are heading for their fifth straight week of losses and look set for their worst month in around seven years (). The U.S. S&P500 is a whisker off losing all its gains for the year ()
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