While you were sleeping: IMF downgrades, Netflix drops

Tue, 19 Jul 2016

By Margreet Dietz July 20 (BusinessDesk) - Wall Street moved lower as disappointing earnings from Netflix, among others, and the International Monetary Fund’s downgrade of its outlook for the global economy weighed on sentiment. The IMF cut its forecasts for global economic growth this year and next as the unexpected UK vote to leave the European Union creates a wave of uncertainty amid already-fragile business and consumer confidence, it said in a statement. The IMF now predicts the global economy will expand 3.1 percent this year and...

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