WSB Stocks Tumbled in Morning Trading, with Micovision Slipping Nearly 12% and AMC Slipping Over 6%.
On Wednesday, the Federal Reserve released minutes from its December meeting. While officials had already announced a tapering of bond purchases and expectations for several rate hikes this year, the minutes revealed the possibility for even more aggressive moves. Several officials thought the Fed could shrink its balance sheet of Treasuries and mortgage-backed assets, which it has been buying for some time to nurse the economy back to health. Tapering asset purchases merely suggested the Fed would be buying fewer securities but would still be purchasing. Letting the balance sheet shrink would be an indicator of even tighter financial conditions than that.
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