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Global markets saw significant intraday moves yesterday evening as Janet Yellen spoke out regarding the Fed’s huge asset purchasing programme. The fed are continuing to taper down the programme by $10bn, a move which was largely forecasted by markets yet an overreaction caused a dramatic sell off with the Dow Jones dropping 200 points. Their asset purchasing programme now stands at $55bn per month. 

George Osborne shook insurance stocks yesterday during his 2014 budget with £3bn being wiped off the value of insurance firms. Resolution Ltd, Legal & General Group, Aviva and Just Retirement all fell sharply as Osborne spoke about pension reforms. The budget also sent the value of bookmakers to drop as taxes were raised on gambling machines to 25%. 

American unemployment claims, existing home sales and the Philly Fed Manufacturing index are all released this afternoon.

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