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Monday, 8 July 2019

US-China trade war and interest rate rises spell losses for the super-rich

After seven years of growth, assets of the richest people on the planet fall by 3%

Donald Trump’s trade war with China and fears over rising interest rates triggered stock market losses worth $2tn (£1.6tn) for the world’s super-rich last year.

After seven years of steadily rising wealth, the richest people on the planet saw the combined value of their assets slide by 3% from a year earlier to stand at $68.1tn as financial markets plunged against a backdrop of rising tensions, with China hit the hardest by the decline.

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from The Guardian https://ift.tt/2xyuxfF

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