The 17-country eurozone risks falling into a "severe recession," the Organization for Economic Cooperation and Development warned on Tuesday, as it called on governments and Europe's central bank to act quickly to keep the slowdown from dragging down the global economy.

Singapore's economic growth slowed in the first quarter as the government warned Thursday that political upheaval in Europe threatens to undermine the global economy.

Japan's economy grew an at annual rate of 4.1 percent in the first quarter amid a gradual recovery from last year's catastrophic earthquake and tsunami.

A look at economic developments and activity in major stock markets around the world Wednesday:

Maybe the U.S. economy's strength this winter wasn't just weather-related after all.