Preliminary figures released today show the US economy grew at an annual rate of 3.2% in the last quarter of 2013, in line with analysts' expectations.
Japan's Nikkei has dropped another 2.5% overnight as equity markets move further into the red following a fresh tapering announcement from the US Federal Reserve.
Since Federal Reserve chair Ben Bernanke first raised the prospect of tapering on 22 May, bond funds have endured a torrid run, but some have coped much better than others.
The Federal Reserve saw jobs growth in the US as the trigger to begin tapering QE, and has raised its economic growth forecast, the minutes of the last Federal Open Market Committee (FOMC) meeting reveal.
Janet Yellen has been voted in by the US Senate to become the first woman to lead the Federal Reserve.
Markets have rallied today following the Federal Reserve's move to scale back its quantitative easing programme as the US economy recovers.