The Worst Performing Stock Market Among G20 Countries? Russia

Despite all the attention surrounding the "Trump rally" in American stocks, foreign stock markets have been delivering superior returns.

Bloomberg reports that the top performing stock market among the G20 members is Argentina with a near 35 percent return, followed by Turkey just shy of 30 percent. But the worst performing stock market among the 20 biggest economies in the world? Russia.

The S&P 500 index and Russia's Micex index began 2017 at nearly the same level, but Russia's index is now lower by nearly 15 percent. Over the same time period, the American index is up around 8 percent.

Russia's stock exchange has been hard hit due to slumping oil prices and the country's failed attempt to join OPEC members in slashing their collective oil outputs. Also, many investors had expected President Trump to ease sanctions against the country but now optimism is "evaporating."

Canada's TSX index is the only other exchange trading in the red for 2017.

Trump Meets Putin

For the first time ever on Friday, President Trump personally met with Putin and isn't immediately known what was talked about.

"Realistically, Russian officials know that in the current US climate, any great breakthroughs are unlikely," The Guardian's Moscow correspondent Shaun Walker wrote. "But many will see merely holding the meeting, if it goes ahead in an atmosphere of bonhomie, as a win for the Kremlin."

Related Links:

Market Volatility? Try Civil Unrest. A Predictive Model For When Nations Go Sideways

Is Russia's Government Corrupt? Russians Certainly Seem To Think So