While you were sleeping Stocks fall on IMF report

Tue, 09 Oct 2012

By Margreet Dietz Oct 10 (BusinessDesk) - Equities slumped on both sides of the Atlantic after the International Monetary Fund reduced its forecast for global growth. The global economy will expand 3.3 percent this year and 3.6 percent in 2013, the IMF said in its World Economic Outlook. That's down from July forecasts of 3.5 percent in 2012 and 3.9 percent in 2013. Meanwhile, the latest round of US earnings—kicked off by Alcoa—is expected to clearly reflect the impact on corporate profits. Earnings reports for S&P 500 companies may show the...

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