Growth worries weigh on world stocks

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NEW YORK: Global stock markets fell Tuesday as anxiety about slowing growth, weak German economic data and a potentially poor earnings season led to heavy selling. Frankfurt’s benchmark DAX 30 index slumped 2.6 percent as dire German factory orders sparked fresh questions about the health of the eurozone’s biggest economy. France’s CAC 40 index shed 2.2 percent, Britain’s FTSE 100 dropped 1.2 percent in value and the FTSE-Mib in Milan fell 3.0 percent as Italian banking shares dove. “A three-week low in the price of oil goes someway to explaining deteriorating market sentiment,” said CMC Markets analyst Jasper Lawler. The declines also came as International Monetary Fund chief Christine Lagarde said in a speech in Frankfurt that although the global economy wasn’t in crisis, the recovery is still “too slow” and “too fragile” in the face of growing risks from a slowdown in China and subdued growth in developing economies.

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AFP

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