While you were sleeping Wall Street slides

Wed, 11 Dec 2013

By Margreet Dietz Dec 12 (BusinessDesk) – Wall Street sank as a bipartisan US budget deal removed one of the obstacles the Federal Reserve had previously identified as key to a decision on when to begin tapering its monthly bond-buying program. “The hurdle of the budget deal has been passed and it will affect the Fed’s decision to taper in the coming months as that uncertainty has subsided,” Chad Morganlander, a Florham Park, New Jersey-based fund manager at Stifel Nicolaus & Co, told Bloomberg News. The proposed deal still needs approval of...

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