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2017 Trustees of the University of Pennsylvania School of Arts and Sciences.

5-point cut in UK interest rates and easing in euro zone and Swiss rates underscored troubles facing the global economy, world stocks remained in the red and Wall Street is off sharply as investors sell holdings across the board. Disappointing outlooks from companies across the world, including technology bellwether Cisco Systems has shown a deepening global economic downturn, pointing to a global economy falling into a protracted recession.

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