Rumours persist of emergency fed meeting

US - The US Federal Reserve refused to comment Wednesday on rumours that it was considering an emergency meeting in response to the collapse in the stock markets.

The S&P 500 is at its lowest in five years and the speed of the fall has been accelerating in recent days, although fundamental facts about the economy have not deteriorated and many companies have been reporting earnings in line with expectations.

The Fed has not had an unscheduled meeting since 17 September, after the terrorist attacks

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