While you were sleeping US equities drop

Tue, 04 Jun 2013

By Margreet Dietz June 5 (BusinessDesk) - Wall Street slumped as investors locked in profits in anticipation of a potential downgrade to the US Federal Reserve's US$85 billion-a-month bond-buying program. In late afternoon trading in New York, the Dow Jones Industrial Average dropped 0.75 percent, while the Standard & Poor's 500 Index declined 0.78 percent and the Nasdaq Composite fell 0.84 percent. Fed Bank of Kansas City President Esther George said in a speech in Santa Fe, New Mexico that she supported "slowing the pace of asset purchases...

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