Live Updates: Treasury Secretary calling meeting to discuss market volatility amid GameStop trading frenzy
Yellen has sought permission from ethics lawyers to do so, according to a report
Sources tell FOX Business' Charlie Gasparino that hedge funds are worried that Congress may force laws restricting trading practices, including short selling.
U.S. Treasury Secretary Janet Yellen is calling a meeting of key financial regulators this week to discuss market volatility following the GameStop trading frenzy.
Yellen will bring together heads of the Securities and Exchange Commission, the Federal Reserve, the Federal Reserve Bank of New York, and the Commodity Futures Trading Commission, a Treasury official told Reuters on Tuesday.
Shares of the Grapevine, Texas-based video game retailer fell by as much as 67% to $74.22 apiece on Tuesday before clawing back.
“Secretary Yellen believes the integrity of markets is important and has asked for a discussion of recent volatility in financial markets and whether recent activities are consistent with investor protection and fair and efficient markets,” Treasury spokeswoman Alexandra LaManna said in a statement to the news organization.
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