Pessimism about the outlook for global growth, along with lingering uncertainty over the prospects for US-China trade talks, helped drag down equities and oil prices while offering support to Treasuries, the yen and gold.
The IMF lowered its forecasts for GDP growth this year and next in both advanced and emerging economies, citing risks including trade tensions, Brexit, and the budgetary position of Italy.
The downgrades came hard on the heels of data showing that China’s economy had expanded in 2018 at the slowest pace for almost three decades.
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