Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Friday that investors are dropping risky assets from their portfolios because of falling global Gross Domestic Product expectations, fueled by China's slowing growth, and the intensifying U.S. presidential race.
Donald Trump's vow to round up and deport all of America's undocumented immigrants if he is elected president could shrink the economy by around 2%, according to a study to be released on Thursday by conservative think tank the American Action Forum.
U.S. economic growth braked sharply in the first quarter to its slowest pace in two years as consumer spending softened and a strong dollar continued to undercut exports, but a pick-up in activity is anticipated given a buoyant labor market.
U.S. futures are pointing to a negative open on Thursday, tracking losses in Europe and Asia overnight, as investors weigh up the slightly hawkish Fed statement on Wednesday and look ahead to the advanced first quarter GDP data.
China's economy expanded a seasonally-adjusted 1.1% in the first quarter of 2016 from the fourth quarter of last year, National Bureau of Statistics data showed, the lowest quarterly expansion on record since 2010.