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Bulls may need the support, as hedge funds and retail investors are tilted defensively following the strong end to the year, with worries around the timing of the Federal Reserve’s rate cuts adding to the caution.
Global growth is set to decelerate from 3.1% in 2022 to 2.1% this year, with almost all advanced economies and most of developing countries facing downgrades, the World Bank said on Tuesday.
"U.S. economy is likely to remain weak in 2024, decelerating to 0.8 percent," report says