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Added on the 25/04/2019 06:40:42 - Copyright : Wochit
Stocks recovered from their worst levels of the day, but still had heavy losses on weakness in financial stocks. Bobbi Rebell reports.
European shares have plunged to 16-month lows, extending an aggressive sell-off, was investors shed risky assets on persistent concern over the pace of growth. Grace Pascoe reports.
European stock markets extended their losing streak on Thursday, with benchmark indexes in Frankfurt and London hitting seven-month lows as fears of a global slowdown took hold. As Sonia Legg reports, minutes from the U.S. Federal Reserve's July meeting dented expectations for a rate hike in mid-September, amid worries over lagging inflation and slowing growth in China.
The International Monetary Fund slightly lowers its outlook for the global economy, predicting the global economy will grow by 2.8 percent this year and three percent in 2024, a decline of 0.1 percentage point from its previous forecasts in January. SOUNDBITE
Surging inflation and severe slowdowns in the United States and China prompted the IMF to downgrade its outlook for the global economy this year and next, while warning that the situation could get much worse. SOUNDBITE
The impact of the war in Ukraine is spreading worldwide, causing the IMF to sharply downgrade its 2022 global growth forecast to 3.6 percent, IMF chief economist Pierre-Olivier Gourinchas says as he presents the latest World Economic Outlook. SOUNDBITE