While the bailout saga in Cyprus has the potential to stir global markets again, the U.S. FederalOpen Market Committee's policy statement after the European close and Federal Reserve Chairman Ben Bernanke's news conference may hold some attention.
He also noted that the uncertainty surrounding any new stimulus might be in the markets until the end of June, when the next FederalOpen Market Committee meets.
Following two days of sell-offs in stock markets across the globe--and a week ahead of its FederalOpen Market Committee meeting (when the rate cut was expected)-- the Fed slashed short-term interest rates by three-quarters of a percentage point, its single most dramatic rate reduction since 1984.