We’ve been talking a lot about volatility in the market. Or more specifically, the lack of volatility in markets.
The S&P 500 hasn’t moved more than 1% up or down during any session this month, and the Dow has only gained or loss 100 points three times.
U.S. investors, and particularly folks on Wall Street, may want more volatility, but be careful what you wish for.
Bespoke Investment Group today put out a list of the 40 most volatile stock markets in the world.
The markets seeing the most volatility these days have dealt with government debt defaults, overheated housing markets, bank runs, and nearly 27% unemployment.
Topping Bespoke’s list over the last month is Argentina, with two United Arab Emirates markets, Greece, Bulgaria, and Russia also experiencing large gyrations.
Argentina, which had been embroiled in a fight with hedge funders over debt it had been refusing to pay, had its case tossed by the Supreme Court and will be forced to pay. The day of the Supreme Court’s decision, Argentina’s stock market fell 12%.
Last Friday, Bulgaria was forced to takeover its fourth-largest bank, Corporate Commercial Bank, following a run on the bank.
Russia has been dealing with the situation in Ukraine.
And Greece is still, well, Greece.
Investors may be clamoring for more action in the market, but this kind of serious volatility typically comes at a steep price.