The Global Financial Markets Are Getting AnnihilatedSubmitted by emalvini on Thu, 06/20/2013 - 11:58
The Global Financial Markets Are Getting Annihilated
SAM RO | JUN. 20, 2013 | 10:19 AM
The entire global financial markets are selling off sharply today.
U.S. stock markets are getting slammed early in the trading session. The Dow and the S&P 500 are down by over 1.5%. This follows major sell-offs in Europe and Asia earlier today, and it extends yesterday's U.S. market sell-off.
Globally, investors are digesting two big headlines:
Fed Chairman Ben Bernanke suggested that strengthening economic data could enable the Fed to start tapering, or gradually reducing, its stimulative bond-buying plan.
China reported that manufacturing activity was decelerating at a higher clip than expected in June. China is the world's second largest economy and it is also a key source of global economic growth.