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Heavy losses on Wall Street with the Fed tying the bank short


Wall street register this Friday heavy losses greater than 2% after the stress tests carried out by the Federal Reserve (Fed) on banks. The main US indexes return to the red after the 1% gains recorded this Thursday thanks to good data on GDP in the United States and weekly unemployment claims.

Banks are not spared either. The Federal Reserve (Fed) has announced, after carrying out its usual (and annual) stress tests, that It ties financial institutions short and will impose restrictions on their dividends. After this news, the shares of the main US entities are trading with heavy losses. For example, Goldman Sachs is down more than 6%, while JP Morgan and Morgan Stanley are down around 4% at this time.

The regulator has specified that it will only allow payment based on a formula linked to a bank's recent earnings. The limitations were received, as expected, by falls of between 2 and 3% by the sector this Thursday. Especially striking was the case of Wells Fargo, the largest provider in the country, which started the session with strong increases and ended up losing 3%. Today, 5.5% is left.

In the business field, Nike also stands out, with a drop of 6%. Investors undo positions after clothing and equipment maker has announced losses of more than 700 million due to confinement, followed by the massive closure of its stores worldwide. Its turnover has also suffered in that last quarter of the fiscal year, registering a drop of 38% to $ 6,313 million.

In other markets, West Texas oil, the benchmark in the United States, falls 0.4% at this time, to $ 38.56. In addition, the ounce of gold falls 0.3%, to $ 1,763, while the euro appreciates a slight 0.04% and changes to $ 1.1219. Finally, the yield on the 10-year American bond yields up to 0.66%.

And on the other side of the Atlantic, the Ibex has turned around to list negative after the opening of the market in the United States. The Spanish selective falls more than 1% at this time and extends its weekly losses above 3%. The same has happened in the rest of Europe, although with lower losses than in the Ibex. And in Asia, the stock markets have closed green despite the latent fear of a flare-up and with Qantas crashing 9% on the Australian ASX 200.

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