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Continued: Is the stock rally almost over or does it have legs? The bull and bear cases

  • Article by: BERNARD CONDON , Associated Press
  • Last update: August 30, 2014 - 7:05 AM

The 18 countries that share the euro didn't grow at all last quarter. China is slowing rapidly and Japan shrank 7 percent compared with a year earlier.

Most economists expect the U.S. to shrug off the troubles abroad. But not everyone.

David Levy, an economist, predicted the last U.S. recession with uncanny precision. He says another one is coming next year. The cause: Downturns elsewhere, not domestic trouble.

Even if he's wrong, slowing economies overseas will still matter since companies in the S&P 500 generate nearly half their sales abroad.

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