PARIS, Feb 9, 2008 (AFP) – World stockmarkets lost 5.2 trillion dollars (3.6 trillion euros) in January thanks to the fallout from the US subprime crisis and fears of a global economic slowdown, Standard & Poor’s said Saturday. But only Argentina and Taiwan slipped into negative territory for the 12-month period.
“If investors thought the market could only go up, January’s wake-up call pulled them back into reality,” the independent credit ratings’ provider said.
Standard & Poor’s said the world’s equity markets lost a combined 5.2 trillion dollars as emerging markets fell 12.44 percent and developed markets lost 7.83 percent to register one of the worst starts to a new year.
“There were few safe havens in January as 50 of the 52 global equity markets ended the month in negative territory, with 25 of them posting double-digit losses,” said Howard Silverblatt, senior index analyst at S&Ps.
All 26 developed equity markets posted negative returns in January, with 16 losing at least 10 percent of their value.
The January declines negated all previous market gains, leaving all of the developed markets in the red for the trailing three month period.
In Paris, the stock exchange lost 12.27 percent over th