Evidence Of Global Economic Slowdown Drives Stocks Lower

Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

Stocks across the world fell after reports of economic weakness in Europe.

Car sales have plummeted in Europe along with reports this month of unemployment increasing again. Great Britain’s unemployment rate rose to 2.56 million between December and February.

Contributing to the downturn is Bank of America showing a lackluster earnings report, drops in demand for Apple’s iPod and iPhone and a report of slower than expected growth in China.

The Dow Industrial Average fell 138 points Wednesday after losing 265 on Monday. The Dow is down 2% from its record high last Thursday. Crude Oil prices also fell 2.3% to $86.68 per barrel.

New car sales in Europe were down 10 percent in the first quarter o the year, which the European automakers association attributed to the high unemployment rates.

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