Stocks lower as World Bank slashes global growth forecast

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Major stock markets fell Tuesday as investors fretted over central bank moves to rein in inflation and the World Bank cut its global economic growth forecast following Russia's invasion of Ukraine.

The World Bank slashed its growth estimate from 4.1 percent to 2.9 percent, warning that"recession will be hard to avoid" in many countries.

Stock markets in London, Paris and Frankfurt, all ended the day in negative territory. And Wall Street was also in the red at around mid-session. "Keep your seat belts fastened because there will be more turbulence ahead, as central banks are forced to withdraw support."

 

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