Guardian – Global markets have fallen amid renewed fears over economic growth after the World Bank cut its forecasts for this year, citing a deeper-than-expected recession in Europe and a slowdown in China and India.
It said the global economy was likely to grow by 2.2% this year, a downgrade compared with its January forecast of 2.4% growth. The gloomier outlook came as global markets fell, with the Japanese Nikkei closing down 6.35%, and the FTSE 100, the French CAC, German DAX and Spanish IBEX all down more than 1% in early trading on Thursday.
