Greek uncertainty leaves markets in red at end of turbulent week James Bullard, president of the St Louis Federal Reserve, suggested that the decision to lay out a "more elaborate plan" for slowing the pace of asset purchases was "inappropriately timed." Quantitative easing has spurred a recovery in equities over recent months but with the prospect of new Fed money diminishing, markets tumbled. Commenting on the movement in equities over the last week, Chris Beauchamp, market analyst at IG Index, said investors had got "quite used to the idea of unlimited quantitative easing." "It is safe to say they were comfortable with a world where the Fed was essentially guaranteeing rising prices," he added. Markets might struggle to gain traction over the next few weeks, which realistically suggests it might be September before markets begin to recoup their losses in any meaningful fashion. It could be another difficult summer. Adding to American concerns were fresh anxieties over Greece. The smallest party in Greece's ruling coalition pulled out of the government after a row over the abrupt closure of the state broadcaster. Democratic Left's departure leaves prime minister Antonis Samaras with a tiny majority. The party has not yet decided whether to offer external support to keep Greece's international bailout on track and their exit could make it tougher for the government to pass unpopular reforms demanded by foreign lenders. The International Monetary Fund and the eurozone said that Greece is assured of its next aid payment as long as the crisis-stricken country presses ahead with its economic overhaul. Ten-year Greek bonds at one point spiked to their highest since late April while Greek stocks tumbled 6 pc. While European shares struggled, Japan's Nikkei recovered 1.7pc. In China, stocks slipped 0.5pc, but pared earlier losses amid speculation that the country's central bank had pumped billions of dollars into several lenders to ease a liquidity crisis.