East Asia and Pacific region's growth forecast cut by World Bank main driving factor. Details [here]. The World Bank also added that there was a risk that the slowdown in China, world's second largest economy, could worsen and last longer than many analysts have forecast.
Latest earnings from large multinationals such as FedEx Corp, Caterpillar Inc and Hewlett-Packard Co show weakness in Europe and China.
As per Reuters latest data, 91 companies in the S&P 500 index have issued negative
outlooks versus 21 companies issuing positive outlook.
More details at Reuters [here].
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