F&C's Scott calls bear market after a 20% fall with more bad news ahead

F&C's Ted Scott said UK equities have entered a bear market, despite the current economic backdrop s...

F&C's Ted Scott said UK equities have entered a bear market, despite the current economic backdrop suggesting we are not in a recession. Scott, who runs the UK Growth & Income offering, said after last week's sharp fall in the FTSE 100, with miners and banks feeling the worst of the pain, the index had declined by more than 20% since its peak last autumn, marking the technical definition of a bear market. "While we are now technically in a bear market for equities, in terms of the economic backdrop we are still not in a recession. The UK economy has only just begun to slow after a robus...