The Independent [News Website, UK] Friday 21 June 2013 Markets plunge in fear of end to US money-printing
link to www.independent.co.uk
Traders and investors around the world began selling stocks and bonds yesterday, sucking money out of global markets after the US Federal Reserve signalled that it could begin rolling back its bond-buying programme later this year and end it altogether around next summer.
The prospect sent investors rushing for the exit at such speed that, in New York, both the S&P 500 and the Dow Jones Industrial Average recorded their worst daily declines since 2011. The Dow fell by 353.87 points, down 2.3 per cent, to 14,758.3, while the S&P 500 dropped by 2.5 per cent to 1,588.19.
Could be a Very Bad Thing. Your money could disappear, as happened in Greece.