Thursday, May 23, 2013

Massive Fall in Stock Market 5/22/2013

The stock market has dived today worldwide, with the Nikkei down more than 1,000.

But comments Wednesday by U.S. Federal Reserve Chairman Ben Bernanke and minutes from the Fed's recent policy meeting suggested that the Fed might start pulling back on its bond purchases sometime this year. That made investors fret that the flood might soon be tapering and dovetailed with weak Chinese manufacturing data to send the Nikkei tumbling. It fell 1,143.28 points to close at 14483.98, a drop of 7.3%, the worst decline by percentage since right after the March 2011 earthquake and tsunami.

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