It will be a chilly winter for global stocks, according to analysts in a Reuters poll who cut year-end predictions for most major indices from three months ago and warned the risks to that already-dull outlook were skewed to the downside.
Equities had a dream run for the better part of the last decade but are struggling to shake off deep losses from the first half of this year on worries about the global economy, suggesting a fundamental shift may be afoot.
The Aug. 9-23 Reuters polls of over 150 equity market analysts showed nearly all of the 17 indices surveyed marking only single digit gains for the remainder of the year. Slowing global growth, coupled with central banks across the world hiking interest rates to achieve price stability, were likely to keep stock prices from scaling previous peaks or touching new ones.
While those factors were expected to keep volatility high for the year there was a near-split among strategists over an outright sell-off in their local markets for the same period.
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