The 5 Biggest Market Events of 2015 So Far
2015 has certainly been an interesting year as far as the world of finance is concerned.
The markets have undoubtedly seen some tumultuous times, particularly in recent months, so today we’re going to look at the five biggest market events of the year so far.
1. Black Monday Crash
Starting with a. 8.5% drop in China’s Shanghai Composite index, the repercussions of the Black Monday crash were extensive and widespread.
The Indian BSE dropped 5.9% and Japan’s Nikkei fell 4.6%, leading to massive selloffs throughout Europe and the United States, and ending in a fall in the Standard & Poor’s index to the tune of almost 4%.
2. Swiss Franc
Despite much of the world experiencing its fair share of economic woes, the Swiss Franc has actually seen a period of great strength throughout much of 2015.
With investor confidence in the US Dollar falling – partly in line with falling oil prices – the Franc gained 25% against the USD, as well as an impressive 30% against the Euro when the Swiss National Bank removed the cap of 1.20 Francs per Euro.
3. Greek Bailout
August this year marked Greek’s third economic bailout in attempt to prevent a ‘Grexit’ and keep Greece in the Eurozone.
The plan, which will provide as much as $95 billion in loans over the next three years, has been shrouded in a great deal of political unrest, with Greek Prime Minister Alexis Tsipras facing a significant amount of resistance.
More than 40 Syriza MPs voted against the bailout; however, it is hoped that this latest stimulus will be enough to set Greece back on track
4. Puerto Rico Crisis
Puerto Rico has been in the thick of an economic downturn for the best part of a decade now, and its multi-faceted crisis looks no closer to resolution.
From the expiration of a federal tax break for corporate incomes to the bursting of its construction bubble, Puerto Rico only became more entrenched when the 2008 financial collapse struck. GNP has been consistently falling while unemployment and crime rates have been soaring to record highs.
It seems as if drastic political and economic reform will be necessary to pull Puerto Rico out of its ever-worsening financial situation.
5. Oil Price Collapse
Oil prices have almost halved since June 2014, with some of the lowest prices seen since as far back as 2009.
Despite a fairly modest Spring recovery, oil production continues to expand around the world, so it doesn’t look as if oil prices are likely to make any kind of serious recovery in the short term.
What’s more, with the recent discovery of the biggest ever oil field in the Mediterranean by Italian oil giants Eni, one has to wonder what the next few years will bring to the oil markets.
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