DAVID GREENE, HOST:
We'll begin NPR's business news with fallout from the Fed.
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GREENE: Stock markets across Asia fell and India's currency continued its plunge after minutes from the July meeting of the Federal Reserve were released yesterday. The records from that meeting showed that officials were comfortable with scaling back its huge bond-buying program as the economy grows stronger.
This is bad news for emerging markets, because investors will be returning to U.S. bond markets to go after rising interest rates. Transcript provided by NPR, Copyright NPR.