What haha said.
If you look at world indices, most of them have been beaten down worse than the US. Taking end of Oct '07 as the peak, they've declined, roughly:
Britain: 6700 -> 5700, 15%
Germany: 8000 -> 6500, 19%
France: 5850 -> 4700, 20%
Japan: 16700 -> 12500, 25%
Australia: 6800 -> 5400...