Stocks continue to bleed as all Indexes finished in the negative today


U.S. stocks finished steeply lower on Wednesday, wiping out the prior day’s gains and more, as the Federal Reserve opted to stick with its plan to continue to reduce its monthly bond purchases, now down to $65 billion, regardless of recent distress in emerging markets. “Today’s Fed decision to continue with tapering, despite the unfolding turmoil in emerging markets, suggests the Fed has a domestic policy compass firmly in hand. The Fed is sending a clear message that unless a much larger scale crisis emerges, do not expect the Fed to deviate from its current policy path,” wrote Jonathan Lewis, chief investment officer at Samson Capital Advisors.
“We would not be surprised to see the Fed increase its tapering to $15 billion or 20 billion at one of its summer meetings, and expect the Fed to be done tapering by the fall should the economy continue on its current path,” said Jennifer Vail, chief investment officer for institutional and corporate trust at U.S. Bank Wealth Management. The yield on the 10-year Treasury note fell to a low of 2.68 percent, its first time under 2.7 percent since Nov. 26.  “The Fed’s actions continue to send reverberations to the other economies of the world, and not positive ones. The strength of the dollar, via the taper, is exposing some real weakness in other markets and economies. Keep in mind that all of this could change on a dime and go the other way,” noted Kevin Giddis, head of fixed income capital markets at Raymond James. The Fed decision was expected, with several market observers saying policy makers had little choice. More

Advertisements

About END TIME HEADLINES

End Time Headlines is a ministry created to provide resources to equip believers and to inform the discerning of the "Signs and Seasons" in which we are in. Our Mission is to inform our readers and viewers of Prophetic Events and how they are unfolding before our very eyes thru News and Headlines presented from a "Prophetic Prospective" in light of the Holy Bible. We strive to operate in excellence and in Integrity to provide accurate and reliable sources to inform our readers.
This entry was posted in ECONOMIC ALERT and tagged , , , , , . Bookmark the permalink.