The Federal Reserve on Friday declined to extend a pandemic-era rule that relaxed the amount of capital banks had to maintain against Treasurys and other holdings, in a move that could upset Wall Street and the bond market.
U.S. stocks fell on Friday after the Federal Reserve’s decision to not extend a pandemic-era capital break for banks stoked a rise in bond yields and a sell-off in financials.
The Dow Jones Industrial Average slid 340 points, while the S&P 500 was off by 0.7%. The tech-heavy Nasdaq Composite traded 0.3% lower.
Stay in the InfoTech Trading for updates and buy and sell opportunities.
