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Read it at BBC
Stock tickers around the world held bad news Thursday as the U.S. Federal Reserve’s gloomy assessment of the American economy—combined with continuing weakness in the euro zone—sent markets tumbling. Major European markets were down as much as 5 percent, and the Dow Jones tumbled 300 points in early trading on Wall Street. On Wednesday, the Fed predicted “continuing weakness in overall labor market conditions” and announced a plan to move around $400 billion in bonds in order to push down interest rates.