NEW YORK ( TheStreet) -- Federal Reserve Chairman Ben Bernanke provided the clarity markets wanted on Wednesday; it was just not the answer they wanted to hear.
In spite of the many reasons analysts cited about why the Fed should continue its easing measures, Bernanke stated that the bond-buying program would start to wind down later this year.
This policy choice had global ramifications. Emerging markets and sectors tied to economic growth were dependent on the low rate environment and troves of easy money flowing their way. Upon the news, these assets sold off and have continued to trend downward as the negative sentiment builds.
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