RBS urges investors to 'sell everything' amid fear of global crisis

Warning oil price could fall to $10 a barrel

clock • 1 min read

The Royal Bank of Scotland (RBS) has urged investors to "sell everything" as it warned stock markets could fall 20% this year.

The bank issued an alert to investors saying "danger is lurking out there for every investor' and 'the downside is crystallising. Watch out. Sell (mostly) everything."

It added: "In a crowded hall, exit doors are small. Risks are high. This looks very much like 2008."

RBS suggested taking refuge in US and German government bonds, according to an article in This is Money.

Meanwhile oil prices fell to $30 a barrel for the first time since 2004 - but Standard Chartered said it could fall to as low as $10, not seen since 1998, the paper reported.

The warnings come after a roller-coaster start to the New Year for investors, which saw billions of pounds wiped off stocks in the UK and elsewhere stirred by turmoil in China.

The FTSE was volatile all week following its re-opening for 2016, while other global indices including the Dax and the Dow Jones also struggled.

The FTSE 100 finished up 1% at 5929.24 at the close on Tuesday, meaning it barely regained the ground lost during the day.

The index saw £85bn wiped off its value after tumbling 5.2% last week, during what was dubbed the worst start to a New Year on world markets. 

 

 

More on Economics / Markets

Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read
Spring Budget 24: Chancellor unveils long-term UK growth plan

Spring Budget 24: Chancellor unveils long-term UK growth plan

Includes British ISA launch and further NI cut

clock 06 March 2024 • 1 min read

In-depth

March 2024: Month in review with deputy editor Jenna Brown

March 2024: Month in review with deputy editor Jenna Brown

Take a look at some of the news and feature highlights of the last month

Jenna Brown
clock 28 March 2024 • 5 min read
Will IFA-owned platforms take over the financial advice sector?

Will IFA-owned platforms take over the financial advice sector?

PA talks to industry experts on the future of adviser-owned platforms

Sahar Nazir
clock 27 March 2024 • 9 min read
PA Awards 2024: Winners' photo gallery from the night!

PA Awards 2024: Winners' photo gallery from the night!

The industry's best were celebrated in London last Wednesday

Professional Adviser
clock 26 March 2024 • 1 min read