'China, India among worst performing stock markets of 2008'

India and China, two of the investors' biggest darlings not so long ago, are among the world's worst-performing stock markets this year, says the Wall Street Journal (WSJ).

Indian shares are down 28 percent this year as of Friday, clearly a bear phase. Chinese stocks have faced a worst fate - tumbling 46 percent, the WSJ reported Monday.

Both countries started 2008 with stocks trading at expensive levels, leaving them vulnerable to a correction. While economic growth goes on apace in the two countries, it is not expected to match last year's superb performance. Growth could be further dented because investors are increasingly anxious about rising inflation and government efforts to stem it.