The World Bank Lowers Global Economic Outlook; Dow Falls 100 Points
Stocks retreat from recent record highs today, with the Dow falling over 100 points. The stocks slid today mainly due to the World Bank lowering its global economic outlook. The World Bank cites the harsh winter weather in the U.S., the continual unrest in Ukraine, and the economic "rebalancing" in China, among other issues, for the lowered outlook. The S&P 500 has already surpassed the outlook of many top Wall Street strategists for the entire year. This concerns many who believe that the S&P 500 may have hit its peak for the year and may risk retreating from the gains that it has already earned.Toyota (TM) announced a massive recall of 2.3 million vehicles for an air bag problem, around 766,000 of those vehicles can be found in the United States.
Word on the Street
- U.S. budget deficit narrows in May.
- Amazon (AMZN) expected to launch music service soon.
- Investors who picked the correct stocks in 2009 win big.
- Apple's (APPL) iWatch is expected to be a hit.
- The World Bank lowered its global economic outlook.
- The future of cash.
- Inovio Pharmaceuticals (INO) falls on rumor of drug test failure.
Published on Jun 11, 2014By InvestorGuide Staff