Market optimism fades after Fed action

After the rally in US equity market of Friday continued in Asian and European markets after the weekend, Wall Street indexes were firmly back in the red by mid-day on Monday.

Markets rebounded strongly on Friday following the Federal Reserve's surprise announcement that it had cut to rate at which banks can access liquidity by 50 basis points. The euphoria, which followed weeks of turmoil and declines of global stock markets, carried over to Asian and European markets on Monday.

Japanese, European

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