VXUS completely disconnected from international market performance overnight. What am I missing?
u/jimmydooo ·
Reddit — r/investing
· March 05, 2026 at 14:56
· ⬆ 36 pts
· 💬 19 comments
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I've started following VXUS closely but overnight last night I witnessed something that makes little or no sense whatsoever.
Overnight, most Asian markets were up, especially the Nikkei (+1.9%) which is largely represented in VXUS. The Korean Kospi was also up substantially (+9.6%) after its prior day collapse. All other Asian markets were also in the green.
Euro markets were mostly mixed, with the FTSE (-.49%) and DAX (-.78%) and CAC (-.72%) all slightly/moderately down.
The $DXY dollar index was up moderately overnight at approximately +.3% at market open.
It was essentially an international blend, with Asia entirely positive and Euro moderately negative. Given my understanding of the international weightings in the VXUS, I expected it to be slightly positive but more neutral given the overnight strengthening of the dollar.
Instead the bell rang and it was -1.5%. There was no international index that came even close to that far down, even with the strengthening of the $DXY tacked on.
Help me understand what on earth is happening here, because from my perspective watching international markets, it is completely disconnected from reality.
To summarize:
|Index|Change|
|:-|:-|
|Nikkei|\+1.9%|
|Kospi|\+9.6%|
|Hang Seng|\+.28%|
|Shanghai SSE|\+.64%|
|Aussie ASX 200|\+.44%|
|Mumbai Sensex|\+1.14%|
|UK FTSE|\-.49%|
|German DAX|\-.78%|
|French CAC|\-.72%|
End result at market open: -1.4%. This makes zero sense to me.
**UPDATE:**
Turns out I completely missed that Nikkei futures started tumbling around 6am, which is when VXUS also began doing the same.