US Growth Downgrade Weighs on World Markets

During the worst recession in the past seventy years many have witnessed lay-offs, unemployment rates topping out, stocks dropping to scary numbers, homes being foreclosed on, home sales rising, businesses foreclosed on and one of the most intimidating recessions since the Great Depression.

Now that it is ending, many are wondering if it will stay away or if we are all just resting to watch the recession come back with an even mightier bang. When the word recession pops up many people are worried about their futures and even when the recession has ended people are still searching for what will happen next. No one’s job is secure and everyone’s financial future is on the line.

Even though the recession has hit America, globally over everyone is hurting. Stock markets have taken a beating all across the globe which truly shows that in the time of a recession, no one is safe. During this quarter reports from the Commerce Department reported that the GDP was down to 2.8 percent which was much less than it’s 3.5 percent in past quarter.

World stocks are dropping points like crazy and no one is safe from it from Britain to Australia. The FTSE 100 index of primary British shares dropped 31.54 points, while Germany’s DAX fell 32.17 points, France’s CAC-40 was down by 28.55 points and Wall Street’s Dow Jones was down 55.33 points, while Standard & Poor’s 500 index dropped 4.44 points, China’s Shanghai index plunged 115.14 points, Hong Kong’s Hang Seng index fell 348.25 and Japan’s Nikkei 225 stock average crashed down 96.10 points. In South Korea’s Kospi decreased by 0.8 percent and Australia’s S&P/ASX 200 index weakened 0.7 percent. Stock Markets in Thailand Singapore also decreased.

The dollar weakened by 0.5 percent to 88.
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53 yen and the euro decreased also by 0.2 percent. This recession has left the world in shambles and everyone is trying to pick themselves up to move forward toward a brighter future but with nobody safe and things showing up as disastrous in the world markets there is just no telling what will come next.

When it comes to your future, you must take charge especially in today’s time where even the most highly perched businesses need to borrow money to survive. You have to be your own boss and work under your own hand to get ahead in the world and that’s just exactly what you should do.


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