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11 Jun 2014
Wall Street rally halting on global growth concerns
FXStreet (Guatemala) - US stocks finally came off after a number of weeks printing record highs, fulfilling what some economists had been waiting to see.
The Dow Jones Industrial Average was held up and fell 100.37 points after a five week rally and all time highs as the World Bank sighted global growth lower than previously forecasted. The Standard & Poor’s 500 Index dropped 0.3 percent and read 1,944.06 at the close in New York.
The World Bank estimates now that the global economy is going to expand by just 2.8 percent this year which is lower than their previous estimates of over 3 percent while 2015 growth was left at 3.4 percent despite projecting slower growth in China, U.S. Russia Brazil and India.
The Dow Jones Industrial Average was held up and fell 100.37 points after a five week rally and all time highs as the World Bank sighted global growth lower than previously forecasted. The Standard & Poor’s 500 Index dropped 0.3 percent and read 1,944.06 at the close in New York.
The World Bank estimates now that the global economy is going to expand by just 2.8 percent this year which is lower than their previous estimates of over 3 percent while 2015 growth was left at 3.4 percent despite projecting slower growth in China, U.S. Russia Brazil and India.