While you were sleeping Wall Street extends losses

Wed, 05 Jun 2013

By Margreet Dietz June 6 (BusinessDesk) - Wall Street sank amid disappointing jobs data and concern about chances the US Federal Reserve will ease back its stimulus measures. "Overall economic activity increased at a modest to moderate pace," the Fed said in its Beige Book. "Hiring increased at a measured pace in several Districts, with some contacts noting difficulty finding qualified workers." The Fed is looking for substantial improvement in the labour market before tapering its US$85 billion a month bond-buying program. Fed chief Ben Ber...

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