Market slump continues as Fed pushes on with taper

In its first unanimous decision since last June, the US central bank said it would pare back its stimulus programme by another $10bn in February, taking total month asset purchases down to $65bn. A statement from the central bank made no mention of the recent slump seen in emerging markets - widely thought to have been prompted by its initial decision to taper - and prompted a further equity market slump. In Japan, the Nikkei closed 2.5% lower at 15,007 and has now fallen 8% since the start of the year, against a backdrop of poorly-performing equity markets worldwide. In the US, t...