Traders work on the floor of the New York Stock Exchange on February 27, 2013 in New York City. - 

Global markets have a bevy of news to keep them busy this morning. The Chinese government announced new taxes on housing profits to cool down its booming real estate market. In the U.S., billions of dollars of federal spending cuts, known as the sequestration, are now in effect. And in Europe, markets are still reeling from political uncertainty in Italy following a recent election.

Julia Coronado, chief economist with the investment bank BNP Paribas, joins Marketplace Morning Report host Jeremy Hobson to discuss how the markets are digesting the latest economic events.