Financials Tumble Amid Doubts Over Trump's Economic Agenda -- Financials Roundup

Financial-sector shares fell sharply amid doubts over the Trump's administration's ability to advance its economic agenda as scandals continue to engulf the president.

Banks were seen to be among the main beneficiaries of President Donald Trump's plans to deregulate and to cut taxes.

Federal Reserve Bank of Minneapolis President Neel Kashkari advocated pressing banks to raise more capital during times of stability as a way to deal with the threat of asset-price bubbles.

-By Rob Curran, rob.curran@dowjones.com

(END) Dow Jones Newswires

May 17, 2017 17:40 ET (21:40 GMT)