Overview
Global equities fell 2.3% for UK investors in October as concerns about the scale of spending on artificial intelligence (AI) weighed on technology shares and emerging markets.
UK and European equities were more resilient, helped by their lower exposure to technology. Government bonds rallied late in the month even as oil prices rose.
The divergence across sectors, regions and asset classes underlined the role of diversification. Higher energy costs and persistent inflation remain important for the outlook.
Full update below…