NEW YORK ( TheStreet) -- TheStreet's Debra Borchardt discussed some of the big news and events announced Wednesday and their effect on the stock market.
The market has clearly decided that the economic stimulus plan proposed by Japan's Prime Minister Shinzo Abe was not what investors wanted. As a result, this will likely add to the extreme volatility that we've seen in the Nikkei over the past several weeks, she said.
Combine that with comments from Dallas Fed President Richard Fisher and Sarah Bloom Raskin, a member of the Fed's Board of Governors, who believe the Federal Reserve should begin to pare back some its own economic stimulus and it will easily explain the early selloff this morning.
This has again renewed fears among investors that at some point Federal Chairman Ben Bernanke will announce the tapering of quantitative easing, Borchardt said.The selling seen in Salesforce.com (CRM) has appeared to slow, as investors mull the company's recent acquistion of ExactTarget (ET). An upgrade from Goldman Sachs is likely helping, but the waves of insider selling and the change in the company's accounting scheme will likely keep many investors worried. It was also announced this morning that Apple (AAPL) will soon be banned from selling the iPad 2 and iPhone 4 in the U.S. The International Trade Commission ruled in favor of Samsung, citing a patent infringement was committed by Apple. It would also appear that Amazon (AMZN) is trying to launch a major rollout of its online grocery segment, although the company has remained relatively mum on the project, Borchardt said. The online retailer has been quietly working on the project for six years now. -- Written by Bret Kenwell in Petoskey, Mich. Follow @traderboy23
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