EQUITY markets have so far stayed relatively calm.
This is despite a steady stream of negative newsflow, and a weak August, which preceded a 5 per cent and 3 per cent fall in September and October, respectively. At its worst, stock markets gave back half of the year’s gains to date.
While there are many reasons for the sell-off, investors’ main concern is a potential market top, given the growing list of worries about an economic slowdown and escalating military conflicts.
Due to the pervasive bearishness since the beginning of the year, many investors were conservatively positioned and missed the large move up in equities. However, instead of taking advantage of the current pullback, they...
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