The market's dark days aren't over yet

It's been a historic week for markets as investors finally caught a glimpse of just how bad things really are. And there are plenty more scary scenarios ahead that should curtail any revival.

It's been a historic week for stock­markets. "I can't remember a day like this", one dealer told the FT on Monday. While US markets were closed for a public holiday, their global counterparts plunged.

Over £77bn was wiped off the FTSE 100 as the index slid by 5.5%, the worst one-day loss since 11 September 2001. Germany and France fell by 7.2% and 6.8% respectively. On Tuesday Asia kept sliding; Hong Kong saw its worst two-day fall since the Asian crisis. The MSCI Asia-Pacific index, having slid by more than 20% since its peak in October, has followed Europe into an official bear market.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up
MoneyWeek

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.