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The Business world got drunk on cheap money – and now the hangover begins

Dan White


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Traders work on the floor of the New York Stock Exchange (NYSE). Photo: Getty

Traders work on the floor of the New York Stock Exchange (NYSE). Photo: Getty

Traders work on the floor of the New York Stock Exchange (NYSE). Photo: Getty

After the latest price falls the tech-heavy Nasdaq index is now down by 30pc since the start of the year, while the S&P 500 index has fallen by 22pc over the same period.

Things are almost as bad on this side of the Atlantic. In the UK the FTSE 250 index is down 21pc since the start of 2022 – the FTSE 250 index, over half of whose constituent companies’ sales are in the UK, much better reflects what’s happening in the British economy than the better-known FTSE 100, of which less than a quarter of individual company sales are in the UK.


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