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VCSC Daily - Markets fall on Fed news– NA cuts CIT to 22% – SBV won’t extend gold deadline

Markets fall on Fed news, Vietnam holds up relatively well. Markets were down around the world after the Fed signalled that it will wind down its bond-buying program by next year. Vietnam’s stock market, which historically has low correlation to global markets, held up fairly well as the VNI and HNI both fell by only 0.7% compared to larger declines of 1%-3% in markets in the US, Europe and Asia.