Minutes from the latest Federal Reserve meeting suggesting its quantitative easing programme could end sooner than expected have hit equity markets overnight.
The US Federal Reserve has expanded the scope of its quantitative easing programme and suggested interest rates will not rise until US unemployment falls below 6.5%.
Equity markets have been given a boost by the latest monthly jobs figures from the US which show a further fall in the unemployment rate in November.
HSBC is preparing its first sale of sub-prime loans since the height of the financial crash, as Britain's largest bank begins to off-load more than $40bn (£25bn) of toxic US debt it still holds on its books.
It has been a hectic year for investors, with the eurozone debacle driving core bond yields to record lows, while equity markets were buffeted by fears over China and the US.
The Investment Management Association (IMA) has written to HM Revenue & Customs (HMRC) to express its concerns over the "continued uncertainty" for companies trying to comply with the Foreign Account Tax Compliance Act (FATCA).
Investors across Europe and the US are in flight-mode this afternoon, with US markets opening sharply lower as the weak corporate earnings season continues to plague sentiment.