PHOTO: ALEX BRANDON/AP Donald Trump sought to dismiss concerns by saying it reflected how optimistic investors are in the US economy.
The global economy has begun to shudder.
On Wednesday, the US stock market tumbled after a reliable predictor of looming recessions flashed for the first time since the 2008 financial crisis. The Dow Jones industrial average fell more than 700 points, or nearly 3 per cent, in the afternoon and has lost close to 7 per cent in the past three weeks.
Two of the world’s largest economies, Germany and the United Kingdom, appear to be contracting. Argentina’s stock market fell nearly 50 per cent in recent days, and growth in China has slowed.
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