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On the farm -- Morning everyone a sell -- continues this morning after fears over a pullback in federal stimulus triggered losses.
In the last trading session Fed Chairman Ben Bernanke put it all on the line yesterday during his press conference.
Presenting a roadmap for the end of stimulus.
-- -- subsequent data remained broadly aligned and our current expectations for the economy.
We would continue to reduce the pace of purchases in measured steps through the first half of next year.
Ending purchases around mid year.
And that wasn't what markets wanted to hear you saw the red arrows were looking at this morning yesterday stocks also went into -- fly that lasted until the closing bell.
The death of 200 points yes and 1% and an Asian stocks they're also fell overnight besides those Bernanke comments.
The flash HSBC China purchasing managers index contracted.
To a nine month low of 48 point three in June Shanghai and Hong Kong were down close to 3% reversing a similar reaction.
In Europe London is down triple digits having lost 130 points so far.
-- Paris is down about eighty -- down almost 200.
And the Bank of England on Thursday said UK lenders that say rather -- UK lenders.
Had a capital shortfall of 27 point one billion euros at the end of two point twelve and they need to sell assets.
And restructure further in order to close the gap there.
Related coverage UK will -- some RBS break up and we'll continue to monitor Europe for you today.
As that day goes on in the meantime investors will get some new data on the labor and real estate markets.
This morning 340000.
People are expected to have filed initial jobless claims.
Benefits last week up from the prior -- -- 134000.
Have that report for you.
As soon as across is at 8:30 AM eastern time.
The report on existing home sales for May well be released at 10 o'clock economists estimate -- sold rose six tenths of a percent to an annual rate.
A five million that's up slightly from April's rate.
A four point 97 million.
Microsoft is also changing its tune regarding upcoming Xbox one following some backlash.
Over unpopular policies for the video -- system the company announced that it will no longer require the system to connect to the Internet each day.
And it won't restrict how video game discs are traded resold or rented.
Initially Microsoft said it would offer technology to video game publishers.
To restrict -- titles are resold or traded at participating retailers restricting a player's ability to use used games.
Microsoft also face pressure from rival Sony said its upcoming PlayStation four.
Would not include such restrictions and would be 100 dollars less than the Xbox one.
Which -- go for 499.
Dollars both systems are set to debut later this year around the holiday season.
Imus in the morning starts right now on Fox Business giving you the -- across.
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