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LOOK OUT BELOW, ASIA DOWN = U.S. DOWN
The well advertised concerns in Japan weighed on stocks and commodities today. The drop kicked in overnight when the Asian markets opened and Nikkei futures fell over 10%. US stocks viciously fell overnight along with every industrial, agricultural and financial commodity. The breath of the market was horrible all day. Did you know the FOMC met and announced today? That was the bright spot. The fed voted to keep QE2 in place and planned to keep rates close to zero for an "extended period" of time. Fed officials pointed to stronger consumer spending and a brighter jobs outlook. In the end, the statement and the decision was expected and was the cause of the small boost this afternoon.
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