Profit-taking ahead of FOMC Meeting

Financial markets pulled back ahead of the FOMC meeting. Investors were cautious as it's getting more likely that the Fed would wait until next month for announcing additional easing measures. Meanwhile, Germany poured cold water on bond purchases program anticipated by the market. Finance spokesman Johannes Blankenheim said that "the ESM treaty does not foresee a banking license, and we also see no need for a banking license for the ESM".

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Profit-taking ahead of FOMC Meeting