Global Stocks Tumble After Latest Move by the Fed

http://www.nytimes.com/2011/09/23/business/global/daily-stock-market-activity.html?_r=1&hp

The Fed pointed to a number of long-term problems in the American economy, including high unemployment and a depressed housing market. In addition Moody’s Investors Service downgraded ratings on three big American banks — Bank of America, Wells Fargo and Citigroup — saying government support had become less likely in the event of financial trouble.