US markets fall as QE3 chances fade

US shares slipped back into the red as minutes from the latest Federal Reserve meeting revealed the chances of a third round of monetary easing have waned significantly.

The minutes for the Federal Reserve's meeting in March show only two out of the 10 voting members canvassed for more stimulus. "A number of members perceived a non-negligible risk that improvements in employment could diminish as the year progressed, as had occurred in 2010 and 2011, and saw this risk as reinforcing the case for leaving the forward guidance unchanged at this meeting," said the minutes. This is in stark contrast to January's meeting when members argued QE3 was a real possibility if economic conditions worsened. Last week, Fed chairman Ben Bernanke added fuel to the ...