Bank of America said that global stock and bond markets have lost regarding $46.1 trillion of their market value since November 2021.
He explained that these losses are due to the interest rate hike and the shock of quantitative tightening by the Federal Reserve.
Bank of America indicated that losses in global markets will not stop until the Federal Reserve ends its policy of raising interest rates in coordination with other central banks.
The bank stated that the strong decline led to the forced liquidation of the “Wall Street” stock exchange, which may explain the recent decline in shares.