The global business elite will gather in the mountains of Davos, Switzerland this week amid a backdrop of turbulent markets and an uncertain economic outlook.
For the first time in over two years, CEOs, politicians, and billionaires are set to congregate at the World Economic Forum following a pandemic-induced hiatus. Russia’s war in Ukraine, the COVID-19 pandemic, and worries of economic gloom will be among the key topics discussed, as the world’s top leaders face the most uncertain outlook for global cooperation in years.
A top-of-mind issue for many Davos attendees will no doubt be recent turbulence in financial markets, as the S&P 500 just completed its seventh consecutive week of losses, the longest streak since 2001. The benchmark index has fallen seven weeks in a row only twice since 1980, according to market data.
The S&P 500 slid into bear market territory — defined as a 20% drop from recent highs — intraday on Friday, but a late afternoon…