Trader on the floor of the New York Stock Exchange.
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The world's markets are following Wall Street down as investors fret about the state of the European economy.
Every leading Asia-Pacific equity index -- apart from China's -- is currently in the red as a global equity sell-off hit risk sentiment.
The International Monetary Fund on Tuesday downgraded its global growth forecast for this year and 2015, warning that the 18 European Union countries that use the euro faces weakening demand and could even a slide into another recession.
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