Financials Lower as Traders Hedge on Rate View -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies declined as traders hedged their bets on the outlook for interest rates. Rates ticked down Tuesday after weak consumer data.

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Singapore's financial regulator imposed fines on two large banks including Credit Suisse as it concluded a two-year investigation into failures in its financial system related to the alleged misappropriations from Malaysian state fund 1MDB.

The chief executive of the world's largest money manager, BlackRock, said the stock market was probably overly optimistic on the earnings prospects for large corporations.

Rob Curran,

(END) Dow Jones Newswires

May 30, 2017 17:18 ET (21:18 GMT)