Business

Leaked Fed minutes send marts tumbling

Friday afternoon’s stock market swoon had many equity analysts grasping for answers.

The Dow Jones industrial average fell over 200 points in the final hour of trading with an almost 80 point sell off in the final six minutes.

While the adage “Sell in May and go away,” came to the mind of some market participants, a possible explanation came to light hours later.

The minutes from the May meeting of the Federal Reserve’s advisory panel may have been leaked early.

In the report the Fed’s bankers express concerns that an orderly exit from Quantitative Easing may not be so easy to do and that “it may be painful to consumers and businesses.” The report is no longer accessible online.

The report also cited “an unsustainable bubble in equity and fixed-income markets given current prices.”