US Fed sees lower growth

If the Greek crisis wasn't enough to give investors sleepless nights, the US Federal reserve Chairman, Ben Bernanke, has reduced it's growth forecast to 2.7% to 2.9%, from 3.1 to 3.3%, for April. This has been mainly caused by higher energy prices but supply problems to the motor trade caused by the Japanese earthquake and resulting tsunami, have also been taken into account.

The Fed also sees no improvement in the Jobless situation this year.

Equities have been sold off around the globe on the back of this and investors, already spooked badly by Greek debt concerns, are wondering where the blue skys are coming from.