From New York to Tokyo, stock markets around the world have rallied in 2023

By STAN CHOE
AP Business Writer

NEW YORK (AP) — It’s been a great year for stock markets around the world. Wall Street’s rally has been front and center, with the U.S. stock market the world’s largest and its clear leader in performance in recent years. But stocks have powered higher across developed and emerging economies as inflation has regressed. That has investors feeling better about the path of interest rates, which have shot higher around much of the world to get inflation under control. Such hopes have been more than enough to offset a slowdown in global economic growth this year. This year’s glaring exception for global stock markets has been China.