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Recession buzz is heating up on Wall Street

Wall Street is getting increasingly nervous about the prospects for recession, both on a global and domestic level.

The $73.5 trillion global economy is expected to grow 3.1 percent in 2015 and 3.6 percent in 2016, according to the latest International Monetary Fund projections. Those numbers, though, are heading lower and could be revised even more before all is said and done.

In the 12 recessions after World War II, the S&P 500 has gone up six times afterwards and down the other six times. The average has been a decline of 3.1 percent, followed by a 12.9 percent increase six months out and 15.3 percent gain a year after, according to figures from Sam Stovall, U.S. equity strategist at S&P Capital IQ.

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