US and global equities are heading for their worst quarterly showing since 2011, with investors rattled by China’s economic slowdown, uncertainty over Federal Reserve policy and growing pessimism about corporate earnings.
Adding to investors’ unease, the International Monetary Fund on Tuesday warned that corporate failures are likely to jump sharply in the developing world, after a hearty borrowing binge in the past decade.
With an array of sectors slumping since the start of July, beyond those directly influenced by the rout in commodity prices, the global equity bull run of recent years is now facing a major challenge.
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