Shares of banks and other financial institutions fell amid volatility in the Treasury market.
Monte dei Paschi bids $40B for Banco BPM, Banca Generali as Treasury volatility subsides; JPMorgan Chase layoffs hit highest rate since 2015. Banking consolidation signals IT budget constraints and fintech hiring slowdown amid macro uncertainty.
Stocks also dropped, and U.S. crude oil neared $90 per barrel.
Shares of banks and other financial institutions fell amid volatility in bond markets.
Shares of banks and other financial institutions rose as Treasury market volatility subsided ahead of the Federal Reserve Chairman Kevin Warsh's statement from Jackson Hole, Wyo.