The International Monetary Fund cut their economic forecasts for countries around the globe as an “alarmingly high” risk of a steeper slowdown is present. When governments calculate the effect of austerity measures on future economic output, they use a multiplier of 0.5, meaning for every dollar cut from government spending, 50 cents would be lost in economic output.
What’s up on Wall Street
The Dow Jones Industrial Average dropped 2.07 points (-0.02%) while the Nasdaq fell 21.82 points (-0.70%). Also, S&P 500 decreased 2.09 points (-0.14%).
Here are some of today’s rates:
Here are a few links to some of today’s financial articles. Be sure to leave a comment below if you know of any additional financial articles that are trending today.
The New York Times