October was one of the worst performing months for the global stock market. The S&P 500 fell 6.9%, its poorest monthly performance in seven years. MSCI EAFE dropped 8.0%, the sharpest decline since May 2012 while MSCI EM sank 8.8% (of which South Korea’s KOSPI Index saw its worst month since October 2008). Meanwhile, MSCI FM posted a small decline of 3.5% during the month.