World markets facing era of chaos as complacency means ‘bigger shakeout coming’

Monday, February 12, 2018
By Paul Martin

GLOBAL financial markets will face a new era of volatility as higher interest rates bring a new dawn of “chaos” to markets, a hedge fund boss has warned.

Mon, Feb 12, 2018

World markets were thrown into chaos following a Dow Jones correction which spread to stock exchanges across the globe last week.

Bob Prince, co-chief investment officer at Bridgwater said the turbulence seen last week could continue as markets adjust to new conditions.

He said: “There had been a lot of complacency built up in markets over a long time, so we don’t think this shakeout will be over in a matter of days.

“We’ll probably have a much bigger shakeout coming.”

The financial boss, who runs Bridgewater’s £115billion ($160bn) investment fund said the world markets must be braced for a bumpy ride ahead.

Rising bond yields led to a sell-off in stocks made worst by the collapse of funds last week.

World shares attempted to bounce back today and brush off fresh rises in global bond yields while equity futures pointed to a firmer Wall Street session ahead.

On Friday, a higher close for New York stocks lifted markets in both Asia and Europe.

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