US economy steels itself for weakest global growth since 2009
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The Dow Jones industrial average plunged nearly 1,200 points or 4.4 per cent on Thursday, its biggest one-day fall in history.
PHOTO: AFP
The United States economy braced itself for what could be the weakest global growth since the financial crisis as the stock market continued to take a beating on Thursday and companies warned that disrupted supply chains and dampened consumer demand could squeeze profits.
The Bank of America cut its forecast for global economic growth to 2.8 per cent this year, the weakest since 2009, during the global financial crisis, and said that the US would expand the least in four years.
