Stocks Suffer One-Two Punch of Emerging Market Turmoil, Fed Accommodation Cut


Shutterstock photo

Stocks extended earlier losses after the Federal Reserve today voted to trim another $10 billion from its monthly bond-buying stimulus program known as Quantitative Easing. Shares already were declining well ahead of the afternoon Federal Open Market Committee decision to reduce its purchases of Treasury and mortgage debt to $65 billion per month, erasing all of Tuesday's gain, after an aggressive rate hike in Turkey overnight failed to halt the sell-off in the Turkish lira, rekindling worries about slower global economic growth. Gold rose with the rising global uncertainty.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

More from MT Newswires


MT Newswires

MT Newswires

Market News, Commodities
Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by