In January, International Monetary Fund economists thought the global economy would grow 3.4 percent this year, but now they've ratcheted back that forecast.
This week, Greek will miss a $1.73 billion payment to the International Monetary Fund. The debt crisis has the potential to create financial, economic and geopolitical trouble for Americans.
Germany says that there will be no more negotiations after the Greek premier called for a nationwide referendum on a bailout plan. Meanwhile, fearful Greeks are withdrawing their euros.
The World Economic Outlook released by the International Monetary Fund says the pace of economic growth in 2015 will tick up to 3.5 percent, helped along by lower energy costs and weaker currencies.
The International Monetary Fund issued a gloomy forecast and stock investors reacted. By the market's close, the Dow Jones industrial average had tumbled 272.58 points, or 1.6 percent