Gareth Gore is an associate editor at IFR, where he heads the global people and markets coverage. Since joining the magazine in 2009, he has written extensively on the eurozone crisis, sovereign debt, banking regulation and the international capital markets. He previously worked as a Madrid-based correspondent for Bloomberg, and has also worked for Risk magazine.
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Further losses linked to non-core assets at UBS, Credit Suisse and
Issuers largely steered clear of primary markets last week for fear of getting caught up in ongoing panic that has pushed numerous equity indices including the FTSE, Nikkei, Hang Seng and DAX into bear markets and sent the rouble and Mexican peso to record lows.
Equity investors who have helped finance a doubling of US oil and gas production over the past few years are sitting on losses of around US$60bn, according to an IFR analysis, as plunging commodity prices destroy the economics underpinning much of the nascent industry.