Consensus forecasts for the S&P500 to finish 2018 at 2900 were blown away during the last quarter, led by profit-taking in tech in October, fuelled by fears of trade war consequences in November and capped off by autopilot rate raising talk by the Federal Reserve in December.
At the start of of 2018, world equity values totalled $87 trillion. Now they are worth $69 trillion.
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