The start of 2016 witnesses a markets bloodbath.
Four days into trading this year, and already the price of oil is tanking, China’s stock market “circuit breaker” has been triggered twice, and assets all over the world are on a downward spiral.
But how bad are things really? Well, the answer is very, according to Bank of America Merrill Lynch.
In a massive research note seen by Business Insider, the bank has included a table of its asset class winners and losers, and right now, the losers outnumber the winners by more than five to one.
Of the 58 different equity and bonds markets BAML included, so far in 2016 only eight are in positive territory, and of those eight only two have gained more than 0.2%.
Japanese government, and corporate debt have both gained at least 1%.
At the bottom end of the scale, it’s no surprise that equities are taking the brunt of the damage, but it’s not China suffering the worst, it’s actually Europe’s most maligned economy, Greece, where stocks have lost 5.6% of their value in just four days.
You can check out the full table — which includes data for the last month, three months, and year as well — below.