Banks, lenders and other financial companies fell sharply after weak inflation data called into question the Federal Reserve's rate hike plans. For banks, rate increases are among the primary drivers of profit-margin growth on loans. Two of the country's largest rental-home owners, Blackstone Group affiliate Invitation Homes and Starwood Waypoint Homes have agreed to merge in a deal that would create a giant landlord with roughly 82,000 homes in 17 metropolitan areas, including Atlanta, Miami and Southern California. Both companies amassed private homes during the foreclosure crisis, scooping up homes on the cheap and leasing them out at a profit.
-Rob Curran, email@example.com
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(END) Dow Jones Newswires
August 10, 2017 16:28 ET (20:28 GMT)