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Stock Sell-Off in Wake of Federal Reserve Statement

Global stock markets were in decline Thursday following yesterday’s statement from the Federal Reserve following its two-day policy meeting in Washington. The Fed statement said that “significant downside risks” threatened the U.S. economy raising fears that the global economy was heading for another recession.

“The storyline is that global growth is decelerating,” Mike Ryan, the New York-based chief investment strategist at UBS Wealth Management Americas, said in a telephone interview. His firm oversees $774 billion. “Financial stresses are rising and policymakers are finding few viable options to stabilize the real economy.”

Source: Bloomberg [1]

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Scott Boyd

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