Last year was a bumper year for stocks, with all 17 top global indexes polled by Reuters ending the year higher than where they started. Only one did not rise by a double-digit percentage.
The MSCI Emerging Markets Index .MSCIEF, which measures stock performance, has rebounded 4% from its early February low, though it remains down on the year. Another index measuring emerging markets currency performance .MIEM00000CUS was still sharply lower, reflecting the slide in a range of currencies from Asia to Latin America.
“Once we got renegotiation of trade agreements, we saw uncertainty in the market, and investment took a hit,” Tomas Philipson, acting chair of the Council of Economic Advisers, said in a briefing with reporters about the CEA’s annual Economic Report of the President.
The 19-country euro zone has for years stuck to a broadly neutral fiscal policy in its annual recommendations, despite repeated calls from the European Central Bank and slow-growth states for it to invest more.
FILE PHOTO: Japan’s Economy Minister Yasutoshi Nishimura attends a news conference at Prime Minister Shinzo…
FILE PHOTO: Pedestrians make their way in a business district in Tokyo, Japan May 16, 2018. REUTERS/Kim Kyung-Hoon/File Photo