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Financials Down on Economic Trepidation — Financials Roundup

Provided by Dow Jones Aug 8, 2026, 3:06:00 AM

Shares of banks and other financial institutions ticked down amid trepidation about the U.S. economy.

The surprising loss of jobs in July could complicate the Federal Reserve's plans if inflation remains elevated, economists warned.

While markets initially embraced the data as striking a balance between growth and inflation, stagflation -- where unemployment and prices rise simultaneously -- is another possible outcome.

Two months after he was blocked by the Supreme Court, President Donald Trump has resumed his effort to oust Federal Reserve governor Lisa Cook, with the White House sending her attorneys a letter asking her to respond to allegations she made false statements on mortgage applications for several of her homes.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

August 07, 2026 18:06 ET (22:06 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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