$11 trillion wiped out in worst losing streak for global stocks since 2008 crisis

As much as $11 trillion has been wiped out from the markets amid the worst losing streak for global stocks since the 2008 financial crisis, Bloomberg reported. The valuations of companies across the US and Europe have lowered due to the selloff in MSCI ACWI Index, MSCI's global equity index. Morgan Stanley and Citigroup strategists expect stocks to fall further.