Weekly Market Update
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Market eye
Markets stumble as news from US and China gives investors a jolt
After a run which saw global equity markets move higher on a seemingly daily basis, last week saw a return of volatility as markets seesawed between gains and losses. Whilst all global markets ended the week lower, it was the Nikkei (index of leading Japanese shares) which dominated the headlines. After a run of sharp rises – triggered by the promise of massive liquidity injections by the central bank – drove the Nikkei up by over 70%, Thursday saw the index drop by 7%. Suggestions that the US Federal Reserve may begin to scale back on its $85 billion-a-month asset-purchase programme, together with the release of economic data indicating a slowing Chinese economy, were enough to send investors heading for safer assets and for the froth to come off the top of the exuberant rally.
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