By Nick Baum
WEDNESDAY – 1/23/19
Global stocks slid Tuesday based on predictions and records of a weakening economic rebound from the 2008 recession. The United States has seen its worst home sales in three years, while the Dow Jones Industrial Average fell over 300 points. Other countries have had a similar burnout, with China hitting its lowest economic growth in over 30 years.
The International Monetary Fund has warmed investors and countries alike that economic growth is slowing down. While some US companies did rebound from the fall, many more have been dragged down. A claim that Chinese trade representatives were uninvited from White House to talk with a US trade representative sent stocks even lower, but soon bounced back when White House Economic Advisor Larry Kudlow denied the meeting ever being discussed.
Tuesday was the first day for the United States Stock Market to react to China’s GDP report, as it was closed for Martin Luther King Day on Monday. The GDP report was made at the World Economic Forum, along with the IMF’s reports on an economic future. They cited weakening economies in Germany and Turkey as a factor, along with the ongoing trade war between China and the US.
Sources and Pictures: Flickr, CNN, Fox News, CNN Business
