Markets & Finance

Foundation of New World Order Is Uncertainty

There is always uncertainty in investing. This year, however, the availability of capital — one of the most important variables in the functioning of an economy — can no longer be taken for granted.

Few Bright Lights Amid the Gloom

There were winners amid the carnage of last year’s stock market. But there weren’t many, and the percentage increases they posted were substantially smaller than the triple-digit advances of recent years.

For Many Hedge Funds, No Escape

An historic decline in stocks, and troubles in almost every part of the bond market, dealt hedge funds their worst year on record.

Recession Versus Stimulus

To get a grip on the frightful U.S. economic outlook for 2009, it helps to know a little about the laws of physics.

International

Global Markets Are in for a Tough Slog

After five years of gains, global stock markets collapsed in 2008, leaving investors with nowhere to hide and putting to rest the notion that foreign markets could decouple from troubles in the U.S. and notch better performances.

Forecast for Europe: ‘New Lows’

European stocks are likely to take a lot more punishment before they can start turning up.

Asia Risks More Bears In 2009

The Chinese year of the ox that begins this month could turn out to be less like a bull and more like another big bear for Asian stocks.

Crisis Puts an End to Americas’ Bull Run

Investors began 2008 thinking stocks in Latin American might outperform those in other parts of the world again. And the region’s indexes did remain steady or even rose through midyear.

Mergers, Deals & IPOs

M&A Went MIA and May Stay That Way

Merger and acquisition activity all but screeched to a halt in the last quarter of 2008, with global deals volume falling 29% for the year.

Debut Is Uncertain for IPO Revival

With many of the world’s stock markets showing their steepest one-year declines ever, the market for initial public offerings of stock has become as empty as an investment banker’s bonus check. The question now is when the market will revive.

Venture Scene Survived, Didn’t Thrive

Venture capitalists got squeezed by the financial crisis in 2008. That squeeze is likely to continue in 2009.

Stock and Bond Issuance Shrivels

The steepest one-year stock-market drop in 77 years, the collapse or forced sale of several big Wall Street firms and the shutdown of entire sectors of the bond market for months at a time combined to knock Wall Street underwriting for a loop in 2008.