Stocks wavering here as the Fed confirms it will begin its balance sheet wind down in October. Plus – Apple shares weak as bugs strike the new Watch. Is this a long-term threat for Apple? Stocks in the red today include Western Digital as Bain struck a deal to acquire Toshiba’s chip unit, a blow for Western Digital, General Mills after missing on both the top and bottom lines, citing lower sales of cereals and yogurt, and Bed Bath and Beyond as the home goods retailer reported a profit and revenue miss, and had same-store sales that fell more than expected.
A big change is coming: Liquidity is about to dry up in the global financial system, writes Thomas H. Kee Jr.
There are also good signs in bonds and transports.