Financials Down Amid Signs Tax Bill Faces Resistance -- Financials Roundup

Features Dow Jones Newswires

Banks, lenders and other financial companies declined amid signs that the tax-reform bill would not pass in its current form.

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Investment firm Blackstone Group is planning to sell its majority stake in Xinrong Best Medical Instrument, a Chinese maker of medical devices, The Wall Street Journal reported.

State Street Chief Executive Joseph Hooley and President Michael Rogers plan to retire as part of a leadership shake-up, the giant custody bank said Tuesday.

The Federal Reserve's new chief of bank oversight is encouraging the central bank to take "a fresh look at everything," including the operation of annual stress tests, The Wall Street Journal reported.

-Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

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November 07, 2017 16:50 ET (21:50 GMT)