Is It 2008 All Over Again? Global Stock Markets Show Longest Decline Since Last Economic Crisis
Global stock prices have generally been in decline for around 19 weeks now – the longest negative trend since the economic crisis that erupted in 2008. In the middle of 2008, the FTSE All-World fell for 39 consecutive weeks starting, on 1 May.
The nascent economic resurgence that was detected during 2021 as countries began to exit pandemic lockdowns was undercut around November as the first evidence of decades-high inflation levels emerged around the world. The FTSE All-World index, a benchmark of over 3,100 companies in almost 50 countries, has been falling for 19 weeks, with a brief period of growth in March. Over this period, the FTSE All-World lost 16.49%, stopping short of formally falling into a bearish trend, which requires a 20% decline since the last significant high.