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Mid-Day Recap: Pessimism Hits Markets, Stocks Extend Losses
Stock markets have been quite volatile this morning: the major indexes managed to stay positive in the first ninety minutes of trading but at 11 am all three indexes fell off a cliff.rnrnThe Nasdaq has dropped 0.49% to 1737, the S&P 500 has shed 0.40% to 877 ― extending on a 2% fall yesterday ― and the Dow is trading 0.20% lower at 8147.rn
IMF Predicts Uneven Stabilization and Sluggish Recovery
he International Monetary Fund released new forecasts for how the global economy will perform next year, but even though forecasts were upgraded, recovery is expected to be sluggish.rn“The global economy is beginning to pull out of a recession unprecedented in the post–World War II era, but stabilization is uneven and the recovery is expected to be sluggish,†the IMF stated
Markets Mixed Near 10-Week Low
Yesterday’s decline pushed stock markets to a 10-week low and futures show no sign of rebounding in pre-market trading. Just before the opening, futures on all three major indexes are flat or slightly below Tuesday’s close. The day ahead is a light one, but markets will be active as investors continue to rethink the prospects for recovery, a topic one central bank official may tackle in a speech this afternoon.
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