U.S. stocks fell sharply at the start of Monday’s trade, joining in a global selloff tied to a jump in COVID-19 cases in Europe, a news report alleging major global banks continued doing business with customers suspected of wrongdoing, and the lack of progress toward another round of fiscal stimulus out of Washington.
London Mayor Sadiq Khan was in talks on Monday to discuss introducing new measures to stem the coronavirus’ spread. The SPDR Financial Select Sector ETF fell 2.1%, underperforming the selloff in the broader stock market. XLF, -3.09% Shares of JP Morgan Chase & Co. JPM, -4.32%, which was mentioned in the investigative news report, fell 2.5%.
Read:Biden to senators: Extinguish the ‘flames’ engulfing U.S. politics by not ‘jamming’ through a Supreme Court justice On Monday, Dallas Federal Reserve President Rob Kaplan said the Fed’s new forward guidance could create “fragilities” and “excesses” in financial markets. Other central bankers including New York Fed President John Williams will speak throughout the day.
Thanks realDonaldTrump ......... for ruining America gop responsible for what is coming next! It won't be pretty!
PaulSorrentino3 Now over -900
Trump Depression!
This is what happens when banks get caught committing fraud and laundering money.
Didn’t they say, Trump is good for the Market? Hmmm. Can he make it green now? Show us oh great one. 🙄
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