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March 18th, 2013
06:06 AM ET

MYB: Cyprus bailout news leads to markets sell-off worldwide – Alison Kosik reports

Alison Kosik is minding your business this morning with the latest on U.S. stock futures and world markets.

Stocks around the world are selling off, and “you’re seeing the markets react right now,” Kosik reports.

“This is all about a little tiny island country in the eastern Mediterranean Sea, about the size of Rhode island, called Cyprus.” While it only accounts for 0.2% of GDP for the European Union, Cyprus needs a bailout and this is causing a massive ripple effect across the globe, Kosik says.

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Filed under: Minding Your Business • Stocks • World
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