Agenda: Developments in Financial Markets and the Federal Reserve's Balance Sheet , Term Asset-Backed Securities Loan Facility (TALF), Overall Economy and Consumer Spending, Federal Funds Rate and Unexpected Declines, LIBOR, Broad Stock Price Indices,
The Dow Jones Industrial Average fell almost 1000 points in ten minutes today, wiping out $1 trillion in equity values as algorithmic trading by high-speed computers spun out of control.