Financials Stocks Down After Fed Minutes - Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies declined after Federal Reserve minutes hinted that the central bank may not boost interest rates again in 2017 after all. The Strategic and Policy Forum advisory council of chief executives led by Blackstone Chief Executive Steven Schwarzman disbanded in reaction to President Donald Trump's apparent tolerance of white supremacist protesters in Charlottesville, Va. "Racism, intolerance and violence are always wrong," added Jamie Dimon, chief executive of JPMorgan Chase and a member of the council, in a memo to staff. "There is no room for equivocation here: the evil on display by these perpetrators of hate should be condemned and has no place in a country that draws strength from our diversity and humanity." Electronic-trading firm DRW Holdings agreed to buy high-frequency trader RGM Advisors, the latest sign of how the long period of low volatility is putting pressure on algorithmic trading approaches.

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-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

August 16, 2017 16:46 ET (20:46 GMT)