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‘The worst is yet to come’: Experts say a global bear market is just getting started

CNBC [1]
December 24, 2018

Volatility on Wall Street has led shares across the globe on a wild ride in recent months, resulting in a number of stock markets dipping into bear territory. That’s set to worsen in the new year, experts told CNBC on Monday.

Bear markets — typically defined as 20 percent or more off a recent peak — are threatening investors worldwide. In the U.S. [2], the Nasdaq Composite [3] closed in a bear market on Friday and the S&P 500 [4] was on the brink of one itself after declining nearly 18 percent from its record earlier this year. Globally, Germany’s DAX [5] and China’s Shanghai Composite [6] have also entered bear market levels [7].

Major market risks remain, experts said. The Federal Reserve [8] is likely to continue raising interest rates and worries about a global economic slowdown — made worse by a trade war between the U.S. and China [9] — are mounting.

“I would love to be more optimistic but i just don’t see too many positives out there. I think the worst is yet to come next year, we’re still in the first half of a global equity bear market with more to come next year,” Mark Jolley, global strategist at CCB International Securities, told CNBC’s “Squawk Box.”

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