27th April 2022

The great equaliser: inequality gap cannot last much longer

Global stock markets have rarely been this narrow: the top five stocks are 15% of the world index. This handful of US stocks have been holding up the rest of the market, to the extent that, despite all the volatility we have seen so far this year, the S&P 500 index is, at the time of writing, only 8% off its all-time high.