Jan 30, 2014

Morning Market Report

The market slumps on the back of announcements from the US Federal Reserve.

The market is down 61 points. The Dow Jones was down 190 at 15,739 in a volatile trading session with a 220 point range.

The market had been weaker throughout the morning, uncertain about how the Fed would respond to concerns about emerging markets. Earnings reports were also seen to have missed expectations. The market slid to new lows after the Fed announced an additional reduction in monetary stimulus to US$65 billion per month — after an initial attempt to recover some of the additional losses, the market closed near its lows.

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