Stocks Falter as Growth Worries Persist

0 Posted by - October 8, 2012 - Career & Business, Economics, Money

121008015732 s p 500 9 57 am story top Stocks Falter as Growth Worries PersistU.S. stocks were under pressure Monday as worries about slowing growth kept investors sidelined.

The DowS&P 500, and Nasdaq fell between 0.3% and 0.6%.

Early Monday, the World Bank lowered its outlook for economic growth in Asia, down from the 7.6% estimate it made in May to 7.2%. It also warned that worsening conditions in Europe could knock off 2% from Asia’s GDP growth next year.

Investors are also becoming increasingly worried about a potentially disappointing earnings season, which unofficially kicks off Tuesday when Alcoa (AAFortune 500) announces its results after the closing bell.

Analysts expect earnings to decline 1.34%, according to S&P Capital IQ. That would mark the lowest growth rate since the third quarter of 2009.


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