At the time of writing, UK equity benchmarks have fallen by approximately one-third from their year-to-date highs.

After a torrid three weeks, financial markets stabilised in recent days in response to the stimulus packages announced both by central banks and governments.

How have the major markets performed?

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IPO confidence evaporates

The global spread of the coronavirus led to a simultaneous shock on both the supply and the demand side of the affected economies.

Calm heads and hope needed to weather storms

We cannot predict when markets will finally reach a bottom – they may already have – but we believe it is most likely to be once we hit a peak in the daily growth in new Covid-19 cases round the world.

Fundamental reality

Navigating choppy waters