Four notable features of equity performance in 2020

Global equity markets rode the COVID-19 shockwaves from panic to a record-breaking finale in 2020, capping a year of economic trauma and dramatic reversals in risk sentiment and market leadership.

With many markets hitting new or multiyear highs, the FTSE All-World Index ended 2020 up 14.4%. But this achievement belies the massive gyrations that world markets endured over the course of the year, powered by huge swings between risk-on and risk-off forces.

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