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Dec. 17 (Bloomberg) -- The world economy is facing the risk of both recession and faster inflation.
Global growth this quarter and next may be the slowest in four years, while inflation might be the fastest in a decade, say economists at JPMorgan Chase & Co.
The worst U.S. housing slump in 16 years, coupled with a tightening of credit by banks, has brought the world's largest economy ``close to stall speed,'' according to former Federal Reserve Chairman Alan Greenspan. At the same time, rapid growth in China and other emerging markets is driving energy and food prices higher worldwide.
Dec. 17 (Bloomberg) -- U.S. stocks posted their biggest two-day drop in more than a month, led by energy companies and miners, on growing concern that the U.S. economy will slow.
Exxon Mobil Corp., the biggest U.S. oil company, and Freeport-McMoRan Copper & Gold Inc., the world's second-largest copper producer, declined on slumping fuel and metals prices. Micron Technology Inc., the biggest U.S. producer of computer- memory chips, fell the most in 11 weeks after an analyst forecast a wider loss. Caterpillar Inc. slid to the lowest since Nov. 27 after Morgan Stanley said construction-equipment sales will slow next year.