President Donald Trump held a conference call Wednesday with top executives of three major Wall Street banks as the stock market plunged and the bond market sent a recession signal, Bloomberg reported Friday. Trump held the call with JPMorgan Chase & Co.'s JPM, +2.40% Jamie Dimon, Bank of America Corp.'s BAC, +2.97% Brian Moynihan, and Citigroup Inc.'s C, +3.52% Michael Corbat, the report said.
Stocks tumbled Wednesday, with the Dow Jones Industrial Average DJIA, +1.20% falling 800 points, or 3.1%, to log its biggest one-day percentage drop of the year, while the S&P 500 SPX, +1.44% dropped 2.9%, as the yield on the 10-year Treasury yield briefly dipped below the 2-year note yield, a phenomenon seen as a potential warning of a future recession.
Next week expect FED and all these Bankers to take turns jawboning about 'strong' US Economy Promise more ratecuts issue buy recommendations and persuading investors to become bagholders Cutting rates only proves our Economy is on life support heading towards Recession
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump called the CEOs of the biggest US banks on Wednesday as the stock market plungedPresident Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation. Did they all conclude he was the problem? If not, I don’t think they’re qualified for the job. 9 Wall Street Execs Who Cashed In on the Crisis. Meet the moguls who made out like bandits. (NO JAIL TIME) BIG FAT BONUSES.!! 2008.!! TAX CUTS TO THE RICH DON'T WORK!! WHEN YOU DON'T PUT THESE SOB'S IN JAIL YOU GET MORE OF THE SAME.!! It's a shame realDonaldTrump hasn't had to have the Fed print money to keep the stock market propped up like Obama did for 8 years. DemsRGhettoPimps
Source: CNBC - 🏆 12. / 72 Read more »
Trump held conference call with big bank CEOs amid market turmoil: sourceTrump held a conference call with the CEOs of the three largest Wall Street banks as financial markets were in turmoil - source Did he stamp his foot? Stock market up 315+ today CHAOS IS GOOD FOR CASH FLOW!!!
Source: Reuters - 🏆 2. / 97 Read more »
Trump Spoke With Banking Chiefs Wednesday as Market FellPresident Trump held a conference call with the chief executives of three major U.S. banks on Wednesday, the day the stock market saw a precipitous drop and the configuration of interest rates prompted fears of a potential coming recession, according to people familiar with the matter. Trumpian Brand Management: as predicted, an incompetent White House begins to crater the economy, squandering an eight-year recovery gifted by the previous administration. getting plans together for digital currency release
Source: WSJ - 🏆 98. / 63 Read more »