REUTERS: U.S. stocks tumbled on Friday, with banks leading the way after the U.S. Federal Reserve let expire a temporary capital buffer relief put in place to ease a pandemic-driven stress in the funding market.
Market trading volumes and liquidity are expected to rise on Friday due to"quadruple witching," the quarterly simultaneous expiration of U.S. options and futures contracts. However, the Nasdaq is still about 7per cent below its Feb. 12 all-time closing high as technology and high-growth stocks have lost favor, with their valuations looking expensive with a jump in yields.
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