Uncertainty surrounding the US-China trade war remains the biggest challenge facing the global economy in 2020, according to investment chiefs at 10 of the world’s largest fund managers overseeing $19tn of assets.
Positive comments by Washington on progress in negotiations with Beijing, along with China’s decision to reduce tariffs on imports of 850 goods, helped the US stock market achieve a fresh all-time high in the final days of 2019.
The S&P 500, the main US equity benchmark, returned 31.5 per cent including dividends last year in its second best annual performance this century, extending a record-breaking bull run that stretches back to March 2009.
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