2014: The Year in Charts

In 2014, U.S. equity markets soared, the price of oil plunged and new political hotspots emerged in Ukraine, Iraq, Syria and — Scotland. China’s economic growth cooled, but one of its companies was a hot IPO.

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As the year drew to a close, oil’s decline was having an effect on equity markets, however, the Dow Jones Industrial Average was still showing an 11 percent gain for 2014. Oil prices came under pressure as the dollar strengthened and OPEC decided against an output cut. While drivers rejoiced, big oil producers such as Exxon Mobil Corp. (XOM.N) saw their shares take a hit.

The U.S. economy continued to recover from the 2008-2009 financial crisis and the Federal Reserve ended its monthly bond-buying stimulus program known as quantitative easing. Attention now focused on Europe and Japan, in different stages of QE.

Russia continued to support a pro-Russia insurgency against Ukraine’s pro-Europe government. Western nations that disapproved of the Kremlin’s harsh tactics imposed sanctions that included visa bans and asset freezes, but some tentative signs of a possible ceasefire were emerging toward year end.

The rise of Islamic militants known as ISIS drew a U.S.-led coalition into conflict in Iraq and Syria. In the United Kingdom, Scotland’s voters turned down a proposal for independence.

In December, this Reuters article reported that growth in China’s manufacturing sector slowed in November, suggesting the world’s second-largest economy is still losing momentum and adding pressure on authorities to ramp up stimulus measures after unexpectedly cutting interest rates.

The story said that after saying for months that China does not need any big economic stimulus, the People’s Bank of China (PBOC) surprised financial markets by lowering rates on Nov. 21 to shore up growth. As we head into 2015, analysts see more such moves if the economy continues to stumble.

Nevertheless, the power of China’s economy was proven by e-commerce retailer Alibaba Group Holding Ltd.’s (BABA.N) IPO last fall, which garnered a record US$25 billion.

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