Futures slammed by bond spikes, doubts about China

NEW YORK (AP) — The Federal Reserve’s hazy timetable for winding down its stimulus programs and new signs of a cash strain in China are hammering global markets and U.S. stock futures.

Dow Jones industrial futures are down 110 points to 14,601. S&P futures have given up 13.3 points to 1,570.80. Nasdaq futures are down 16.75 points to 2,848.25.

Yields on U.S. debt are reaching levels not seen since late 2011 as markets gauge the pace at which the Fed will ease back on its bond-buying program.

And on Monday, The People’s Bank of China told banks that they are on their own in securing cash. The central bank said “commercial banks should pay close attention to the market liquidity situation, to strengthen the liquidity factors analysis and forecasting.”

Shares in Chinese banks plunged.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s