Welcome to this week’s edition of top stock market highlights.
The global economy
The world economy is in shambles.
At least, that’s what Bloomberg Economics believes.
The research company has concluded that the global economy is facing one of its worst years in three decades as a plethora of troubles descends on it.
First off, there are energy shocks caused by the ongoing war waged by Russia against Ukraine.
The Eurozone may see a recession next year while the US could end the year with a downturn as rising interest rates slice off a significant chunk of consumer demand.
The US is also facing persistent inflation, setting the US Federal Reserve on a path of increasing rates that should stay till the first quarter of 2024.
Economists from Bloomberg peg next year’s global growth rate at just 2.4%, down from the estimated 3.2% chalked up this year.
However, it is...