Investors should expect no respite to the falls afflicting equity markets argues Albert Edwards, Societe Generale’s co-head of global strategy.

Although markets have experienced some of their worst daily falls ever - the 10.9 percent and 7.7 percent declines registered by the FTSE 100 on 12 March and 9 March respectively were the second and sixth biggest on record - SG’s notorious perma-bear thinks that there is much worse to come.

Markets were ripe for a significant correction for technical and valuation reasons even before the emergence of the Covid-19 panic argues Mr Edwards, who has almost made a career out of h...