However, market participants around the world appeared to shrug off mixed economic data out of China Wednesday.
European and Asian stock markets were mixed while U.S. stock futures traded down pointing to a weak opening after a strong performance Monday.
Asian markets plummeted as slowing manufacturing data across the region raised fresh concerns about the pace of global economic recovery.
In addition to China’s economic slowdown, Goldman Sachs also cited declining global oil prices for the downward projection in its revised prediction.
"The markets are beginning to price in structurally lower growth in China," a JPMorgan Asset Management global market strategist said.
Standard & Poor's downgraded several U.K. and German banks, saying it considers government support for these banks to be uncertain.
Many bond funds will have to sell Russia’s sovereign debt as it falls below investment grade.
Russia will take on credit risk for firms, whose foreign debt obligations have shot up in ruble terms because of the currency's sharp slide.
The Federal Reserve is scheduled to release the latest minutes from the FOMC's October meeting on Wednesday at 2 p.m. EST.
"I guess one could say that the iPhone killed Nokia and the iPad killed the Finnish paper industry," the Finnish Prime Minister said.
The suddenly unstoppable U.S. dollar is posing a triple threat to American companies’ profits.
A Standard & Poor's report says that "when the economy operates below its potential, state tax revenues tend to suffer."
Facing criticism and an ethics complaint, N.J. officials cite a pension investment return rate suddenly higher than they previously reported.
S&P says Christie's management of New Jersey's pension system has "significant negative implications" for the state's finances.
The cost to NJ taxpayers of high-fee Wall Street investments, which have lagged the S&P 500, is hundreds of dollars per household.
Standard & Poor’s says income disparities are slowing U.S. economic growth -- and that fixing education could help.
Investors look to payrolls for insight into rate policy.
The Dow Jones Industrial Average fell 1 percent, or more than 170 points.
Markets had dropped in the previous session following Janet Yellen’s comments about the future of the Fed’s monetary policy.
Investors could hold out for fresh direction on monetary policy from the Janet Yellen-led Federal Reserve Wednesday.
Despite a lower close on Friday owing to concerns in Ukraine, Monday seems set for a solid start.
Following Thursday's fall, which was triggered by concerns about China, Friday adds the Ukraine crisis back into the mix.