(Reuters) - Asian markets took a spill on Thursday after minutes from the Federal Reserve's July policy meeting showed it was still on track to start tapering stimulus as early as next month, sending Treasury yields to two-year highs.
Wall Street stocks sold off, the U.S. dollar surged, and borrowing costs rose globally. All of which is bad news for emerging markets that have come to rely on cheap dollars to underpin domestic demand and fund current account shortfalls.
“Believe in yourself! Have faith in your abilities! Without a humble but reasonable confidence in your own powers you cannot be successful or happy.â€
Move over Google, the Internet has a new favorite website and, believe it or not, it's Yahoo. The ubiquitous search engine's competitor boasted 196.6 million unique visitors in July, just barely topping Google's 192.3 million. And that's not including traffic from Tumblr—which Yahoo purchased earlier this year. Yahoo's stellar numbers—the best its seen since 2011—is yet another boon for CEO Marissa Mayer, who's also seen the company's stock double in value in the past year that she's been at the helm.
US Stocks Gain as Fed Tapering Fears Eased by Weak Housing Data
NEW YORK--Stocks nudged slightly higher as investors weighed disappointing housing-market data against the possibility that the Federal Reserve may delay paring stimulus measures.
