A year of two halves: how global financial markets fared in 2024

New York: So, 2024 was quite the rollercoaster for global financial markets! It kicked off with a bang, thanks to falling inflation and the US economy dodging a recession. Can you believe it? While Europe and the UK struggled a bit, the US was on fire, pushing stock prices to new heights.

But then, things got a little shaky in the bond market. Investors started to worry that central banks weren’t quite getting a grip on inflation, which made everyone rethink their predictions about interest rate cuts. Daniele Antonucci from Quintet Private Bank called it a “masterclass in unpredictability.”

Despite some bumps along the way, like a brief market dip in August, tech stocks really shone. Nvidia, for instance, skyrocketed over 170% as demand for its chips surged. Other big names like Alphabet and Meta also had fantastic years. The S&P 500 hit record highs, and even Elon Musk’s SpaceX doubled in value!

Over in the UK, the FTSE 100 had a mixed bag of a year. It started strong but ended up a bit wobbly. Meanwhile, Germany’s DAX did pretty well, gaining 19%, while France’s market struggled a bit.

And let’s not forget about the pound! It ended the year pretty much where it started against the dollar, but it did have a nice little run against the euro.

As for oil, it started the year high but ended lower due to oversupply fears. And Bitcoin? It had a wild ride, climbing to over $100,000 after Trump’s election win before settling down a bit.

All in all, 2024 was a year of ups and downs, but it showed that markets can be resilient even in uncertain times. What a year, right?