Markets are down early in the European trading session.
Britain’s FTSE 10 is down 0.4%.
France’s CAC 40 is down 1.0%.
Germany’s DAX is down 0.3%.
Spain’s IBEX is down 0.4%.
Italy’s FTSE MIB is down 0.5%.
The Federal Reserve begins its two-day Federal Open Market Committee (FOMC) meeting today. Economists don’t expect any changes to monetary policy. However, some believe that the Fed may begin tapering its quantitative easing program. This action would remove some liquidity from the credit markets and possibly lead to some volatility in the markets. Some argue that risk is being priced into the market today.