Stocks take a beating amid Fed fears and steep sell offs - WALB.com, Albany News, Weather, Sports

Stocks take a beating amid Fed fears and steep sell offs

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NEW YORK (AP) - Investors are still seeing the fallout from yesterday's comments by Fed chairman Ben Bernanke, who said the program of buying bonds to keep interest rates low could be ended next year if the economy keeps improving.

Stocks have been sharply lower again today. And the concerns are reflected around the globe -- from a steep selloff in Asia to falling government bond prices in Europe and the United States.

Just a day after the Federal Reserve roiled U.S. financial markets when it said it could step back from its aggressive economic stimulus program later this year, a slowdown in Chinese manufacturing added to Wall Street's worries.

The breadth of the fears was seen across global financial markets, from sharply lower stock markets in Asia, to falling government bond prices in Europe and the U.S.

The yield on the benchmark 10-year note rose to its highest level since August 2011. The Standard & Poor's 500 was on track for its worst performance in nearly a year.

Small-company stocks fell even more than the rest of the market, a sign that investors are aggressively reducing risk.

 

 

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