FOREIGN STOCK MARKETS

Stock index trends in native currencies and in dollars adjusted for currency fluctuations. The dollar-adjusted returns are what U.S. investors would realize.

Last week Year-to-date Market Native In dollars Native In dollars Australia -4.8% -6.6% -19.6% -16.7% Austria +1.5 +2.4 -6.3 +4.1 Belgium -0.4 +0.6 -24.0 -13.7 Britain +1.5 +4.9 -13.7 +5.5 Canada -5.0 -4.7 -21.7 -20.9 France -0.3 +1.3 -23.5 -13.2 Germany +3.3 +4.3 -17.9 -8.7 Hong Kong +1.7 +1.7 +0.6 +1.3 Italy -4.6 -3.7 -24.4 -16.0 Japan +0.5 +4.7 -43.2 -36.5 Netherlands -0.2 +0.8 -16.2 -6.7 Singapore/Malaysia -1.1 +0.1 -26.5 -19.1 Spain -3.6 -2.8 -30.8 -20.9 Sweden -2.3 -1.6 -20.6 -12.8 Switzerland +1.8 +1.6 -20.4 -4.2 United States -5.2% -15.5%

Source: Morgan Stanley Capital International