Stocks sink on growth fears and possible snag in trade talks
NEW YORK (AP) — Stocks across the world are down Tuesday following new signs the global economy is weakening and reports of difficulties in trade talks between the U.S. and China.
The International Monetary Fund trimmed its economic forecasts for 2019 and 2020 and pointed to risks including trade tensions and rising interest rates. China's government said its economy grew in 2018 at the slowest pace since 1990. The Financial Times reported that the Trump administration canceled a proposed a meeting with Chinese trade officials this week.
Technology companies skidded, and so did industrial companies, which were hurt by the slower growth forecast as well as some weak fourth-quarter earnings.