Saturday December 7, 2019

Don’t be deceived by the Dow’s record run: this time is not different

The world economy may be on an unprecedented roll, but there are reasons to be cautious including the trade war between the US and China, Brexit and climate change

1st December, 2019
2
US stocks are poised this year for their best performance since 2013. Picture: Getty

A few months before the financial crash of 2008, an American investor named Robert Zuccaro predicted that the Dow Jones Industrial Average would soon reach the magic level of 30,000.

At the time, the Dow was trading at 11,500, so the prediction was optimistic. Still, markets had rebounded from the dotcom bust and the 9/11 terrorist attacks, and investors were in thrall to the belief that technology was remaking the global economy in market-friendly ways.

Then the world was...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Related Stories

Voters face a stark choice in the forthcoming election between the reactionary Brexit of the Tories or the socialism of Labour. And business leaders seem powerless in the face of an impending disaster

Vincent Boland | 1 week ago

Last week, in a much-anticipated announcement, the FT said that Lionel Barber would step down as editor in January after 14 years

Vincent Boland | 2 weeks ago