Last year it was the snow that was missing as Christmas and the New Year approached. This year it looks as if it will be the end-of-year equity market rally that misses the party and puts a damp note on things.
Developed equity markets fell by 4.39% in November, and emerging equity markets lost 6.18%. “World equity markets turned lower in November as the financial liquidity crunch, as well as the related earnings charges, continued to weigh down the markets,” says Howard Silverblatt, senior index analyst at Standard & Poor’s.
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