The Dow Jones Industrial Average looks set to open in the red today as the OECD issued a huge shock to the markets. The think tank has dramatically slashed its global outlook, blaming the US-China trade war and Brexit for choking growth. It predicts that global economic growth will slow to just 3.3 percent in 2019, down from 3.5 percent. The downgrade is the second in three months from the OECD. Explaining the slashed forecast, the think tank blamed: “High policy uncertainty, ongoing trade tensions, and a further erosion of business and consumer confidence are all contributing to the slowdown.”
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