Wall Street Pounded as Central Bank Hopes Fade

Originally published on Fox Business FOX Business: The Power to Prosper Wall Street followed European markets sharply lower on Thursday as news that central banks on both sides of the Atlantic won't be taking immediate action to prop up struggling global economies shook traders' confidence. Today's Markets As of 12:00 p.m. ET, the Dow Jones Industrial Average futures dropped 146 points, or 1.1%, to 12825, the S&P 500 sunk 15.6 points, or 1.1%, to 1360 and the Nasdaq Composite fell 19 points, or 0.65%, to 2901. The Federal Reserve on Wednesday held U.S. monetary policy steady, hinting more strongly than before that more action may come down the line if the economy deteriorates further. The Bank of England and European Central Bank followed suit on Thursday, keeping their interest rates and quantitative easing program on hold. Continue reading this article here.