The New York Stock Exchange on December 20. Instead of a Santa rally as expected, we had the biggest December rout in the markets since the Great Depression, with the S&P 500 falling more than 10 per cent, before recovering somewhat. Photo: AP
Richard Harris
Opinion

Opinion

The View by Richard Harris

Why the Santa rally in stock markets may just be a little late

  • Richard Harris says the December rout in US stocks was, in hindsight, not surprising, given the market jitters and the languishing European and Chinese markets. Even so, the lower than average price-to-earnings ratio should reassure investors

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The New York Stock Exchange on December 20. Instead of a Santa rally as expected, we had the biggest December rout in the markets since the Great Depression, with the S&P 500 falling more than 10 per cent, before recovering somewhat. Photo: AP
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