Amid a tumultuous year marked by multiple conflicts and consequential elections around the world, the U.S. stock market has managed to far outperform its global peers. The iShares MSCI ACWI ex-U.S. ETF , which tracks large- and midcap stocks from around the world while excluding the U.S., has gained just 7.6% in 2024. The S & P 500 has soared 27.3% in that time, hitting record highs.
mountain iShares World ex-U.S. ETF versus the S & P 500 in 2024 Political chaos across the world has played a role in some international markets' underperformance in recent days. South Korea President Yoon Suk Yeol's shock martial law decree on Tuesday rattled the country's currency and markets. Although both managed to stabilize after the order was reversed just hours later, the benchmark Kospi index lost 1.4% overnight, putting it down 7.2% for the year.