June 24, 2013
Another Down Day For World Markets
Prices fell again on key stock markets around the world Monday as investors continued to worry that the U.S. central bank could reduce efforts to stimulate the economy, and China's growth may slow.
During Monday's trading U.S. stocks were off one percent or more, key European markets had losses of more than one percent, while Asian markets had steep losses, particularly in Shanghai.
Stock prices have been falling for a couple of days, following word that the U.S. central bank may do less to stimulate the U.S. economy. Federal Reserve Chairman Ben Bernanke made it clear that a program of buying $85 billion worth of bonds could be cut back later this year if the economy strengthens and no longer needs so much support. The program is intended to push down long term interest rates and encourage borrowing, investment, and growth.
Traders say they are also worried about rapidly rising interest rates in China.