Global stock and bond markets lost more than $30 trillion last year, suffering the biggest loss since the 2008 financial crisis, the Financial Times reported.
According to FT, the losses were caused by the impact of the conflict in Ukraine, high inflation in the EU and the US, and interest rate hikes in developed countries.
The broad MSCI All-World index of equities in both developed and emerging markets shed a fifth of its value. Markets in New York, Shanghai, and Frankfurt also experienced significant falls.
Fatih Birol, the head of the International Energy Agency, warned that the energy crisis could intensify in 2023 based on the outlook of the LNG market.
