Bank of America said that global equity and bond markets have lost about $46.1 trillion of market value since November 2021.
These losses are due to higher interest rates and the shock of the Fed's quantitative tightening.
Bank of America noted that losses in global markets would not stop until the Federal Reserve ended its interest raising policy in coordination with other central banks.
The Bank stated that the strong decline had led to forced liquidations on the Wall Street stock exchange, which might explain the recent decline in stocks.
