Shares of banks and other financial institutions rose after a wave of multibillion-dollar deals.
Aon agreed to buy rival insurance brokerage USI Insurance from investment firm KKR for roughly $17 billion, including debt.
Los Angeles County sued property-and-casualty insurer State Farm Monday over its handling of insurance claims after the deadly and destructive 2025 wildfires, alleging that delays and denials of claims by California's largest private insurer violated unfair competition laws.
"We've seen a supply shock, and traditionally you don't raise [rates]...unless you see second or third-order effects," Treasury Sec. Scott Bessent said in an interview on CNBC.
Write to Rob Curran at rob.curran@dowjones.com
