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Volatility on Wall Street has led shares worldwide on a wild ride in recent months, resulting in a number of stock markets dipping into bear territory — typically defined as 20 percent or more off a recent peak.
That's set to worsen in the new year, experts told CNBC on Monday, pointing to risks including the Federal Reserve likely raising interest rates further and mounting concerns about a global economic slowdown.
"I think the worst is yet to come next year, we're still in the first half of a global equity bear market with more to come next year," said Mark Jolley, global strategist at CCB International Securities.

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