News of the US being downgraded by S&P dragged markets down across the globe. The spotlight is now on the Federal Reserve's policy-setting committee, the FOMC which meets today. Investors will be looking for signs from the Fed if a third round of quantitative easing or any other steps will be taken to ease monetary policy further.
In an interview on CNBC-TV18, Bobby Rakhit, CFA - Vice President, FactSet says that whatever comes out of the meeting today is going to have an impact because it is going to be sentiment and sentiment is driving the markets right now. He suggests staying on the sidelines and waiting it out.
He cautions investors to stay out of this jittery market.
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