Market notes: a freakish December

Well it is not quite the end of the year yet, but there is certainly little to cheer about in recent market action, with the world's largest stock market, accounting for more than 50% of global market capitalisation, taking a brutal plunge without a hint so far of the traditional end of year rally. The fallout among the technology leaders that drove the US market higher earlier this year has been quite dramatic, with all the earlier gains made in 2018 now having been eliminated.  The Dow Jones index is having its worst month since 1931 and Nasdaq, down more than 20%, has seen every company listed on it losing money this month.

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