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World Shares Drop After the IMF Forecasts Weaker Global Growth (INTC, AA)

By: , dated October 9th, 2012
 On Tuesday global markets fell after the International Monetary Fund lowered its global outlook. The IMF projected that Spain’s economy would shrink 1.3% next year, while the country plans to prove this report wrong and has yet to respond to the offer of ECB intervention. Drops in US stocks were led by the tech industry, including Intel (INTC) which experienced negative reports from brokerages. Despite showing a third-quarter loss and dropping their demand forecast by 1%, Alcoa (AA) topped investor expectations. Yum Brands (YUM) saw a higher Q3 profit and increased their EPS target growth rate to 13%. Oil futures climbed after China took additional policy action to improve their slowing economy while gold prices dropped due to growing global concerns.

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