Global equity markets and commodity prices are experiencing one of their worst drawdowns in the past 20
years.The recent 15% drop in global equities from their peak has resulted in about $6 trillion being wiped
off the market capitalization of global equities, with the MSCI All World Index down 11% year to date. Slow
output normalization in China with a broadening outbreak globally of the Coronavirus with 58 countries now
reporting infections have motivated large cuts to first quarter GDP growth projections.
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