Charting the Markets: Fed Inaction Spurs Further Equity Declines
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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