While you were sleeping Jobless claims confirm taper

Thu, 15 Aug 2013

By Margreet Dietz Aug 16 (BusinessDesk) - Equities on both sides of the Atlantic dropped after the latest US jobless data fuelled expectations the Federal Reserve will announce plans to begin cutting back its bond-buying program at its meeting next month. Initial claims for unemployment benefits dropped 15,000 last week to a seasonally adjusted 320,000, the lowest level since October 2007, according to the Labor Department. It was well below the 335,000 economists had predicted. In late afternoon trading in New York, the Dow Jones Industrial...

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