The US stock market has suffered its worst start to the year since the global financial crisis, as the threat of rising interest rates, slowing corporate earnings and geopolitical tensions sent stocks tumbling across the board.
The S&P 500 index fell 5.3 per cent in January, its biggest monthly decline since the onset of the coronavirus pandemic in March 2020 and the weakest January since the depths of the global financial crisis in 2009.
The blue-chip benchmark had been on track for an even poorer performance — last week it was nearing its worst January on record — until a 4 per cent recovery in the final two trading days of the month on Friday and Monday.
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