While Europe and the UK struggled to make headway, the US maintained pole position at the top of the rich nations' growth league, pushing shares in New York to fresh record highs.
However, the year ended with jitters in the bond market, as investors feared that central bankers had failed to slay inflationary pressures, forcing many to rip up forecasts about likely cuts in interest rates.
"2024 was a masterclass in unpredictability," said Daniele Antonucci, chief investment officer at Quintet Private Bank.
"Despite earlier concerns, the US avoided a recession, the eurozone and UK experienced only mild downturns, and China picked up steam towards the end of the year. While there were occasional spikes in market volatility, the overall story of 2024 was one of growth - powered in no small part by structural themes, including the rapid rise of new technologies."
2024 was another good year for equities, especially technology stocks listed in the US.Markets shrugged off a brief plunge in early August, but did end the year with a slight wobble, as global stocks fell 2.7% during December.
The tech-focused Nasdaq had its second strong year in a row, surging by over 28% during 2024. The chipmaker Nvidia led the charge, up more than 170% over the last 12 months, as frenzied demand for its semiconductors to run artificial intelligence systems swelled its revenues and profits.
Other tech companies also boomed: Alphabet gained 35%, Meta rose 65% and Tesla had a very strong year, gaining 62%.
The broader S&P 500 hit a series of record highs, prompting Wall Street forecasters to revise up their targets for the index during the year.
In the private markets, Elon Musk's SpaceX doubled in value to $350bn, based on the price of an employee share buyback programme.
Denne historien er fra January 02, 2025-utgaven av The Guardian.
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Denne historien er fra January 02, 2025-utgaven av The Guardian.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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