Faced with an economic slowdown, the European Central Bank indicated on Thursday that it was planning for an interest rate cut for the first time in more than three years. U.S. equities sold off on the news. The ECB also hinted that it may restart large-scale asset purchases later this year, hoping to provide a jolt to the Eurozone’s flagging economy. Next week, the U.S. Federal Reserve is widely expected to cut interest rates by either 25 or 50 basis points, although analysts see the smaller cut as more likely. It will be the first rate cut in a decade, and arguably provides evidence that the central bank tightened a bit too quickly last year. “We see evidence that the global economy is in a slow-growth mode with weakness in Europe, Japan and emerging markets,” Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, told the Wall Street […]