Wall Street falls at open after World Bank’s Asia outlook
NEW YORK (Reuters) – U. S. stocks declined on Monday after the World Bank cut growth forecasts for East Asia, highlighting concerns about the global economic climate and corporate profits on the cusp of the quarterly earnings season. The World Bank reduced its growth forecasts for the East Asia and Pacific region and said there was a risk the slowdown in China could worsen and last longer than many analysts have forecast. China, the world’s second largest economy, has been hampered by the euro zone debt crisis. Europe is China’s largest trade partner. . . .
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