Asian shares headed for the biggest loss since September 2011 and bond risk surged on concern the Federal Reserve may phase out stimulus and as China’s cash crunch worsened. Commodities fell and the dollar strengthened.
Japanese and Australian equity futures followed U.S. stocks lower as the dollar surged after Federal Reserve Chairman Ben S. Bernanke said bond purchases may be reduced later this year should risks to the U.S. economy abate. Australia’s currency slumped while oil slid.
The Canadian dollar fell as its U.S. peer gained versus most other currencies after Federal Reserve Chairman Ben S. Bernanke said risks to the economy have decreased and policy makers could end bond purchases in the middle of next year.
InsideClimateNews.org — Since 2010, at least three ruptured pipelines have spilled oil into U.S. neighborhoods, forcing officials to decide quickly whether local residents would be harmed if they breathed the foul air. But because there are no clear federal guidelines saying if or when the public should be evacuated during an oil spill, health officials had to use a patchwork of scientific and regulatory data designed for other situations.
Pannonia Ethanol, a Hungarian ethanol producer, led critics of Platts at a meeting in London, a month after the publisher was raided by the European Union in a probe into potential manipulation of oil and biofuels prices.