Photographer: Andrew Harrer/Bloomberg

Charting the Markets: Fed Inaction Spurs Further Equity Declines

China stocks remain volatile, Greek stocks gyrate and VW plunges 22 percent.

The spillover from last week's Federal Reserve policy meeting is still being felt across equity markets. The MSCI All-Country World Index fell for a second day, after dropping 1.2 percent on Friday. Asian stocks, excluding Japan which is closed for a public holiday, sank the most since Sept. 1 on concern about global growth. Expectations for a U.S. rate increase in 2015 are receding. According to futures contracts the probability of a move in October stands at 20 percent, down from 44 percent last Wednesday. The odds of a boost in December has dropped to 47 percent, from 64 percent before the Fed announcement.

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