Wall St slides on Fed worries

Concerns of faster-than-eConcerns of faster-than-expected taper force US, European markets down.xpected taper force US, European markets down.

US stocks have followed European markets lower in afternoon trade amid concerns the US Federal Reserve will scale back its bond-buying program more quickly than previously thought.

At 0530 AEDT, the Dow Jones Industrial Average had lost 133.58 (0.83%) to trade at 15,875.19.

The broad-based S&P 500 dipped 11.22 (0.62%) to 1,789.68, while the tech-rich Nasdaq Composite Index gave up 20.66 (0.51%) to 4,024.50.

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