Global Equities Down by $14 Trillion: How Markets Lost Whopping Rs 1,15,79,47,00,00,00,000 in Year 2022
The main drivers behind such a massive global turmoil have been the war in Ukraine, combined with rampant inflation as global economies broke out of the pandemic.
Delhi, December 22: 2022 has perhaps been the most turbulent year investors have ever seen. Global equities are down $14 trillion and heading for their second worst year on record, but there have been nearly 300 interest rate hikes and a trio of 10%-plus rallies in that time making the markets volatile. Converted to Indian Rupees, the figure that the global market lost in 2022 stands at a whopping Rs 1,15,79,47,00,00,00,000.
The main drivers behind such a massive global turmoil have been the war in Ukraine, combined with rampant inflation as global economies broke out of the pandemic. Equally hit was the crypto market as Bitcoin is down 60 per cent, and the larger crypto market is down by $1.4 trillion (Rs 1,15,79,47,00,00,00,00) with the collapse of the FTX empire at its epicentre. G20 Presidency: India To Set Agenda Amid Global Challenges Including Russia-Ukraine War
According to Reuters, USTreasuries and German bonds, considered the benchmarks of global borrowing markets and traditional go-to assets in troubled times, lost 16% and 24% respectively in dollar terms. India Will Come Out of Current Global Turmoil, Move On Path of Sustained Growth, Says FM Nirmala Sitharaman
However, as the world suffers repercussions, India is better positioned to navigate the global turmoil, the world bank said in a recent report. The world bank said that India’s economy is relatively insulated from global spillovers compared to other emerging markets in the report.
Earlier this month, the Indian equities had touched an all time high before returning to the month's lows.
(The above story first appeared on LatestLY on Dec 22, 2022 05:28 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).