In the past three weeks, there has been a discernible change in market sentiment worldwide. It is difficult, almost impossible to find optimistic opinions about where equity markets will go.

The tech-heavy Nasdaq index in the US is firmly in bear market territory, defined as a fall from its recent peak of more than 20%. The S&P 500 and Dow Jones industrial index, being broader market representations, fared slightly better, but even these two are down about 16% from their peaks. ..

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