While you were sleeping: Stocks drop, euro gains

Thu, 02 Oct 2014

By Margreet Dietz Oct. 3 (BusinessDesk) - European stocks dropped, while the euro strengthened, as the European Central Bank disappointed investors with a lack of details about its asset purchase plan aimed at kickstarting the euro-zone’s flagging economy. ECB President Mario Draghi said the central bank will buy assets for at least two years, starting covered-bonds purchases this month and asset-backed securities this quarter. The ECB kept its main refinancing rate at 0.05 percent. “The risks surrounding the economic outlook for the e...

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