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US Treasury Secretary gets into action to deal with Wall Street rout

The Treasury said in a statement that Mnuchin talked with the chief executives of Bank of America, Citi, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Wells Fargo

Reuters  |  Washington 

US President Donald Trump's Treasury secretary called top US bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the "Plunge Protection Team." US stocks have fallen sharply in recent weeks on concerns over slowing economic growth, with the S&P 500 index on pace for its biggest percentage decline in December since the Great Depression. "Today I convened individual calls with the CEOs of the nation's six largest banks," Treasury Secretary Steven Mnuchin said on Twitter shortly before financial ...

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First Published: Mon, December 24 2018. 10:11 IST
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