After a summer lull, equity market turbulence is back. Last week marked the worst week for global stock indices since March, with the MSCI All Country World Index falling by 5.3 per cent over the five sessions. In the US, the S&P 500 lost 5.6 per cent, while the more tech-heavy Nasdaq Composite fell 5.5 per cent. Those falls came despite a series of impressive results for US tech groups and a strong rebound in the economy’s growth in the third quarter. Along with rising caseloads of Covid-19, uncertainty surrounding the outcome of Tuesday’s presidential election between incumbent Donald Trump and his Democratic rival Joe Biden lies behind these jitters.
平靜的夏季過後，股市重現動盪。上週是全球股指自今年3月以來表現最糟的一週，MSCI全球所有國家指數(MSCI All Country World Index)在5個交易日內下跌5.3%。在美國，標普500指數(S&P 500)下跌5.6%，更側重科技股的那斯達克綜合指數(Nasdaq Composite)下跌5.5%。其實美國科技公司發佈了一系列不俗業績，同時第三季度美國經濟增速強勁反彈。引發市場焦慮情緒的除了新型冠狀病毒肺炎（COVID-19，即2019冠狀病毒病）病例的不斷增加，還有圍繞本週二美國總統大選結果的不確定性，此次競選將在現任總統唐納•川普(Donald Trump)及其民主黨競爭對手喬•拜登(Joe Biden)之間展開。