Asian Markets Move Lower On News From Fed Meeting
DAVID GREENE, HOST:
We'll begin NPR's business news with fallout from the Fed.
(SOUNDBITE OF MUSIC)
GREENE: Stock markets across Asia fell and India's currency continued its plunge after minutes from the July meeting of the Federal Reserve were released yesterday. The records from that meeting showed that officials were comfortable with scaling back its huge bond-buying program as the economy grows stronger.
This is bad news for emerging markets, because investors will be returning to U.S. bond markets to go after rising interest rates.
NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.