China steel demand shrinks for first time in 14 years as slowdown stings

DALIAN China (Reuters) - China's steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 percent plunge in prices of the steelmaking raw material.

European rate cut hopes shore up markets

LONDON (AP) — Growing hopes that the European Central Bank will cut interest rates next month shored up markets Tuesday despite more evidence that the Chinese economy is slowing down.

U.S. risks persist, China in good stead so far: IMF

PUNTA DEL ESTE, Uruguay (Reuters) - A renewed drop in housing prices could thwart the U.S. economic recovery in the short term while Washington's lack of a "credible, comprehensive" fiscal plan poses a major medium-term risk, a top IMF official said.