Swiss Franc Way Up, Euro Down After Switzerland Removes Currency Cap

Anxiety is high today in Europe and around the world, after the Swiss National Bank decided yesterday to remove the cap on its currency.

Within minutes of that announcement, the Swiss franc jumped 30 percent against the euro, and many traders suffered huge losses.

Derek Thompson of The Atlantic joins Here & Now's Jeremy Hobson to discuss the timing of the removal, and what it means for the euro and international markets.