Read as much as you want on, anywhere and anytime, for just 99¢.

Stocks slide as Fed says bond purchases could slow

Continue reading below

The stock market shuddered as the Fed said it may start scaling back its $85 billion a month in bond purchases this year and end them by mid-2014. They have stimulated the economy, keeping interest rates low and lifting stocks. Bond and currency markets reacted even more sharply. The 10-year Treasury note’s yield jumped to 2.31%, highest since March 2012. The dollar surged against the yen, euro, and other currencies as traders anticipated higher interest rates. For weeks investors have been trying to figure out when the Fed will start to taper off its purchases. The Fed ‘is really trying to walk a tightrope,’ said George Rusnak, at Wells Fargo.

Loading comments...
Subscriber Log In

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week
Marketing image of
Marketing image of