G20 Meeting May Dictate Path of Stock Market for Rest of the Year
Global Indices continue to retreat in the fourth quarter of this year as the combination of Fed’s quantitative tightening and escalating trade wars threatens to derail the 10 year bullish market. Below is the Year-to-Date return of the Global Indices as of Friday Nov 24:
Next week, global Indices will have a chance to find support if the U.S. and China are able to bridge their differences in G20 meeting. Beijing and Washington have engaged in an escalating tit-for-tat trade war since this summer. The U.S imposed tariffs on Chinese goods worth US $250 billion per year, while China imposed tariffs on U.S. goods worth US $110 billion. The IMF warned that rising trade tensions could cost the global economy $430 billion and lower global growth by as much as 0.5% by 2020.
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