Breaking news at the WaPo,
U.S. stocks plunge after Fed action on bonds
U.S. stocks plummeted Thursday, following world markets as the global economic outlook appeared increasingly shaky, with investors reacting to a dour outlook on the U.S. economy from the Federal Reserve and fearing for the fate of European banks.
Fred Dickson, chief investment strategist of D.A. Davidson & Co., said the Fed’s policy shift “has raised more fears about the possibility of a recession” and that it “set off a chain of new questions when accompanied by a very negative Fed statement” about the U.S. economy.
And the markets don’t close for another hour and half.