When it comes to the recession's ups and downs, overseas markets behave just like the US, except their rise and fall steeper than the US: China, by a multiple of 2.5x; India, 3x; Brazil, 3x; Russia, 3.5x.
Brazil & Russia are influenced by oil prices. If oil goes up & the US market stays the same, Brazil & Russia go up. If the US goes up & oil stays steady, Brazil & Russia go up.
You have to be careful with Russia (ticker RSX) though. The last time they attacked the former Soviet state of Georgia, Russian investors didn't like it much. RSX went down. But since the conflict was temporary, the downturn was also temporary. RSX prices recovered, as if the conflict never existed.
Brazil (ticker EWZ) is a magnificent investment because of a booming economy and oil drilling industry.