IMF Trims Global Growth Forecast; Stocks Suffer One of the Worst Days of 2014
U.S. stocks suffer one of their worst days of 2014 as the Dow falls 273 points and the S&P 500 drops 1.5%. Wall Street seems to be reacting to additional negative economic data out of Europe, specifically continued "softness" out of the region's biggest economy, Germany. The International Monetary Fund cut its global economic forecast for world growth today. The reasons for trimming the forecast were the slowdown of some large emerging markets, heightened political tension in the Middle East and Russia, and continual stagnation in Europe. The United States seems to be one of the bright spots, but many are questioning whether the U.S. can continue to grow and power on as the rest of the world falls behind.
Word on the Street
- IMF cuts world growth forecast.
- Goldman announces the 19 most overpriced stocks.
- Oil prices continue to slide, fall to $89.05 a barrel.
- Walmart (WMT) cuts healthcare benefits.
- 25 companies that are likely to spin off units.
- SodaStream (SODA) shares sink to an all-time low.
- Raytheon (RTN) wins Air Force radar contract.
Published on Oct 7, 2014By InvestorGuide Staff