Global growth scare spooks stocks

Exuberant equity investors have been dealt a reality check by the grim outlook on the global recovery.

"I felt like I went 13 rounds with Mike Tyson every day last week," says Wedbush Equity Management's Stephen Massocca. America's S&P 500 fell by over 3% in an unusually volatile week: the other key US market barometer, the Dow Jones index, notched up its best day of the year on Wednesday 8 October and its worst the next day.

US stocks are close to three-month lows. The FTSE 100, down 8% from its recent peak, is at its lowest level since last summer.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.