This is Andrew Peach with World Business Report.
Breaking news in the last hour.
The International Monetary Fund slashes its outlook for global growth,
adding that US tariffs and market uncertainty will lead to a significant worldwide slowdown.
The IMF says the global economy will grow by 2.8% this year,
down half a percentage point from its previous forecast.
We project that global trade growth will be more than cut in half from 3.8% last year to 1.7% this year.
The price of gold has hit a new high.
US stocks and the dollar are down.
President Trump is blaming the Fed for not lowering interest rates.
Also on the way,
a private island loved by musicians like Stormzy and Rihanna up for sale for $33 million.
It's not every day you get to sell an entire island.
Music connections obviously are helpful because it makes it newsworthy and it gives it interest.
First, those IMF forecasts for global growth.
The IMF says US tariffs and market uncertainty will lead to a worldwide slowdown.
The biggest downgrade among advanced economies is for the US itself,
with the IMF revising its original projection of 2.7% down to 1.8%.
China, facing those steep US tariffs, has also seen a downward revision of 0.6%.
Let's have a listen to Pierre-Olivier Gorinches,