Revelation 6:3-4 NCV When the Lamb opened the second seal, I heard the second living creature say, "Come!" Then another horse came out, a red one. Its rider was given power to take away peace (prosperity, rest) from the earth and to make people kill each other (butcher, slaughter, to maim violently, in streets), and he was given a big sword (assassins sword, terrorist, loud, mighty, sore afraid).
After the U.S. Federal Reserve indicated it would begin to scale back stimulus funds later this year, global markets responded with significant downturns.
European stock markets were off 3% along with other risky investments. With the belief that interest rates will be rising earlier than expected the dollar rose in late trading.
The news also sent U.S. markets down. The Dow Jones Industrial Average fell 2.3% and the S&P 500 fell 2.5%.
The sell-offs are similar to market downturns in 2003 and 1993 when investors began to anticipate rises in interest rates.
Gold and other precious metals also tumbled in wake of the news. Gold fell 6% on Thursday and down 28% since October. Silver fell 6.4%.
