Amid the growing fear of a global recession, Abu Dhabi’s top royal investment firm has now short billions of dollars in US stocks. According to Bloomberg, citing people familiar with the matter, this short comes in a “bet that growing fears over a recession will pressure the market”
In recent months, the realization of a possible global recession has continued to become more apparent as the United States dollar domination continues to fall while major banks also experience fallout.
Billions Of Dollars In US Stocks Shorted
According to people familiar with the matter, following the US stocks short, the Royal Group moved its portfolio into short-term US treasuries. The UAE Royal Group’s latest move is said to have been driven by concerns over a possible global economic downturn.
According to Bloomberg, citing sources close to the matter, following Royal’s firm major move, the UAE National Security Adviser, Sheikh Tahnoon bin Zayed Al Nahyan, is personally overseeing the group’s foray into the world of cryptocurrencies and commodities. However, the specifics of the Royal Group’s investments remain unknown at this time.
Meanwhile, the US economy has been grappling with the collapse of some of its largest banks, which has led to a sharp decline in stock prices. It is worth noting the Royal Group’s move to invest in the crypto and commodities markets may be an attempt to take advantage of the current economic climate.
As the global economy continues to be unpredictable, more investors are turning to alternative markets such as cryptocurrencies and commodities. This is because so far, these are the only markets that have proved to be immune to the possible upcoming global recession.
Global Recession Becomes More Apparent
Meanwhile, the UAE Royal’s firm hasn’t been the only one signaling an upcoming global recession. Ear
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Author: Edyme
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