Today’s Big Picture
Markets today are mostly weaker after the Federal Reserve disappointed the markets by not gearing up its massive bond-buying program further. The major equity markets in Asia closed mostly in the red with Hong Kong’s Hang Seng leading the decline, down 1.6%, both South Korea’s Kospi and Australia’s ASX 200 fell 1.2%, Japan’s Nikkei 225 dropped 0.7%, and China’s Shanghai Composite closed down 0.4%.
The major European equity indices spent the morning in the red, all down over 0.8% by midday trading. Futures point to a drop at the open for the U.S. markets.
While we remembered the tragic events of 9/11 earlier this month with regret and some bitterness, September 17, 2001 marks another key milestone. It was the day that reminded the world just how resilient U.S. equity markets were and still are, when they re-opened for the first time after the attacks. That day