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Asia Down, Europe Even After Fed Comments

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By Douglas A. McIntyre Published
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Stocks dropped moderately in Asia after the Federal Reserve expressed moderately positive comments about the economy the central bank did not rule out further aid to the economy if it hit what the Fed called downside risks.

The Nikkei 225 was off .39% to 8,519. The Hang Seng was down .50 to 18,354.

At the open in Europe, the FTSE 100 was down .4% to 5,466. The DAX was off .21% to 5,765.

MarketWatch commented

European stock markets opened lower on Wednesday, with pressure on miners and banks, after the Federal Reserve kept interest rates unchanged and made no hints it would introduce more quantitative easing.

And of Asia

“The markets have already factored in a lot of negative news. … In the absence of a liquidity push, the market is unlikely to have a strong rebound,” said Ben Kwong, chief operating officer at KGI Asia.

The trading is an early indication that the US may open slightly down.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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