World bourses lost $5.2 trillion in January: S&P

World bourses lost $5.2 trillion in January: S&P
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First Published: Sun, Feb 10 2008. 11 43 AM IST
Updated: Sun, Feb 10 2008. 11 43 AM IST
AFP
Paris: World stockmarkets lost $5.2 trillion in January thanks to the fallout from the US subprime crisis and fears of a global economic slowdown, Standard & Poor’s has said.
“If investors thought the market could only go up, January’s wake-up call pulled them back into reality,” the independent credit ratings’ provider said.
Equity markets in emerging countries, including India also suffered heavy losses in January, apart from Morocco which gained 10.17% and Jordan, which was up by 3.11%. Turkey was the most affected with January losses reaching 22.7%, followed by China on 21.4%, Russia on 16.12% and India at 16%.
Standard & Poor’s said the world’s equity markets lost a combined $5.2 trillion as emerging markets fell 12.44% and developed markets lost 7.83% to register one of the worst starts to a new year.
“There were few safe havens in January as 50 of the 52 global equity markets ended the month in negative territory, with 25 of them posting double-digit losses,” said Howard Silverblatt, senior index analyst at S&Ps.
All 26 developed equity markets posted negative returns in January, with 16 losing at least 10% of their value.
The January declines negated all previous market gains, leaving all of the developed markets in the red for the trailing three month period.
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First Published: Sun, Feb 10 2008. 11 43 AM IST
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