June 20, 2013
Stocks, bonds, and commodities around the world are getting hit by a double-whammy.
First, Fed Chairman Ben Bernanke suggested that strengthening economic data could enable the Fed to start tapering, or gradually reducing, its stimulative bond-buying plan. This seemed to be behind a bond market sell-off.
Second, 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. As such it is also one of the big consumers of commodities.
All of this slammed markets in Asia.
This article was posted: Thursday, June 20, 2013 at 4:47 am