Wall Street Left Reeling as 2018 Upends Almost Every Bet
- Favorite emerging-market stocks, bonds crumble under dollar
- ‘People woke up to a different world,’ says Aberdeen’s Athey
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The half that began with “melt-up” euphoria ended with melt-down fear.
Investors breezed into 2018 expecting to pick up easy returns from steadily rising asset prices. Instead, they’re nursing losses on bets that had delivered the biggest gains from a decade’s worth of buoyant liquidity.