Banks, energy stocks drag Wall Street lower; Biden’s presser in focus | Malay Mail

📆 26/03/2021 06:16 ص
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NEW YORK, March 25 — Wall Street’s main indexes fell today, dragged down by economically sensitive bank and energy stocks and shrugging off data showing the labour market continued to limp out of a coronavirus-induced recession. The Labour Department’s weekly jobless claims report, the most...

Thursday, 25 Mar 2021 11:54 PM MYT

Ten of the 11 S&P sectors fell in early trading with energy, industrials and financials stocks, which recently came into favour on recovery hopes, declining the most. In testimonies to Congress this week, Federal Reserve Chair Jerome Powell expressed optimism about a strong US economic rebound, while Treasury Secretary Janet Yellen said future tax hikes will be needed to pay for public investments.

“Does it want to focus on stimulus, increased vaccinations and re-opening economies or on potential taxes, increased regulation potentially in certain sectors, extremely high spending and inflation.”

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