While you were sleeping East Asian slowdown takes toll on Wall St, Europe

Mon, 08 Oct 2012

Oct. 9 (BusinessDesk) - Stocks on Wall Street and in Europe retreated after the World Bank cut its growth forecast for East Asia, sparking fears the global slowdown is snowballing, and as US quarterly earnings season looms. The World Bank trimmed this year's forecast for growth in the emerging East Asian economies amid dwindling demand for the region's exports as global powerhouses in the US and Europe tidy up their own affairs. It sees growth in the region of 7.2 percent this year from 8.3 percent in 2011, the slowest pace since 2001. Tha...

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