Top 4 global market risks for 2024 that may impact your finances

financialexpress.com:

Investors are facing a myriad of uncertainties that pose substantial risks to the stability and performance of global markets – but as ever where there are risks, there are also significant opportunities.

Nigel Green, CEO and founder of deVere Group, one of the world’s largest independent financial advisory, asset management and fintech organisations, believes there are the four most significant risks confronting global markets in 2024 and examines their potential impact on investors.

“One of the most pressing risks facing global markets is the potential escalation of the Middle East crisis. The October 7 attack by Hamas on Israel has heightened concerns about the possibility of the conflict spreading to involve other nations and groups in the region. Any escalation could disrupt global oil supplies, leading to increased market volatility. Investors are closely monitoring the situation, as heightened tensions may have profound implications for energy prices and overall market stability,” Nigel says.

Industries tied to energy, transportation, and commodities could experience significant fluctuations. Diversification and risk management strategies will be crucial for investors to navigate potential geopolitical shocks emanating from the Middle East.

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While inflation witnessed a decline from its 2022 peaks in most major economies, including the US, UK and eurozone, the spectre of resurgent inflation remains a critical risk in 2024.

Energy prices, a major driver of inflation, are known for their volatility, and any sudden surge could lead to an increase in the headline inflation rate.

“Central banks, in response, may be compelled to raise interest rates