UBS: Recent market volatility surge is an overreaction, but more volatility is expected in the future

Gerry Fowler, Head of European Equity Strategy at UBS, pointed out that the recent surge in market volatility is a "huge overreaction". Since August, market turbulence has intensified due to global economic uncertainty. The weaker-than-expected US non-farm payroll report has raised concerns about an economic recession, along with the hawkish stance of the Bank of Japan, leading to a decline in the stock market. Fowler expects market volatility to remain higher than earlier this year, with the key factor being whether the slowdown in US economic growth will exacerbate the unemployment situation, making future employment data an important economic indicator