SINGAPORE (Reuters) - Asian shares, the euro, commodities and the Australian dollar all fell on Thursday as fears that Europe's debt crisis could unleash financial chaos prompted investors to shed riskier assets in favor of the relative safety of the dollar.
The last time global equity markets were falling at this pace (on a growth scare) was the fall of 2011. That time, after a big push lower, November saw a mass co-ordinated easing by central banks to save the world... stock jumped, the global economy spurted into action briefly, and all was well.
WASHINGTON — The World Bank on Tuesday raised its forecast for global growth for the first time in three years as advanced economies started to pick up pace, led by the United States.
The rosier outlook suggests the world economy is finally breaking free from a long and sluggish recovery after the global financial crisis.