Thursday, February 21, 2013

FOMC, PMIs send global markets spiraling.

Global markets were lower early morning U.S. time following the increasingly hawkish FOMC minutes yesterday and the depressing eurozone PMI data today. U.S. stock futures followed Asian and European shares into the red, while oil, gold, silver and copper also fell. Opponents of the Fed's QE program are increasingly outspoken, with "many" concerned about the costs/risks from further asset purchases.