Markets Rocked as $46 Trillion have been wiped out in past year
Tuesday, October 4, 2022 | Tag Cloud Tags: Federal Reserve, News, Wall Street, War, Worthy News | Learn about out FREE SYNDICATION
(Worthy News) – It’s been a tough year for investors, with global stock and bond markets erasing $46.1 trillion in market value since November 2021, according to Bank of America.
The massive drawdown has led to forced liquidations on Wall Street, the bank’s chief investment strategist Michael Hartnett said in a Friday note, highlighting the recent break below 2018 support in the NYSE Composite Index.
And investors shouldn’t expect the pain to stop until the Federal Reserve, in coordination with other central banks, pivots away from its currently hawkish monetary policy and towards a more dovish stance, according to the note. [ Source: Business Insider (Read More…) ]
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