News Highlights: Top Financial Services News of the Day

02/06/18 12:15 AM EST
Australia's Central Bank Keeps Interest Rates on Hold 
 

The Reserve Bank of Australia on Tuesday left interest rates unchanged at a record low 1.5% at its first policy meeting for 2018, as it awaits signs of wage growth which are currently at their lowest level in 20 years.

 
Rout in Stocks Jolts Traders Used to Heady Days of 2017 
 

When stocks were soaring regularly to highs, many traders said they welcomed a healthy pause after such a rapid climb. But the crushing market rout on Monday was far worse than anything they had in mind.

 
Market Rout Shatters Lull in Volatility 
 

Volatility roared back into the stock market Monday, rattling traders and wrong-footing scores of investors caught wagering that share-price swings would remain muted.

 
Investment Firms Suffer Website Outages 
 

The websites and mobile applications of discount brokerages, mutual-fund firms and digital advisers suffered outages and slowdowns, unnerving individual investors trying to access their accounts during .

 
Market Turmoil Greets New Federal Reserve Chairman 
 

Jerome Powell spent his first day as chairman of the Federal Reserve sizing up the largest stock selloff in 6 1/2 years and the largest one-day point decline on record.

 
Fed Rebuke Costs Wells Fargo About $29 Billion in Lost Market Value 
 

The stock slumped 9.2% after the Federal Reserve cast it into a regulatory purgatory and limited the bank's ability to expand its business.

 
Lenders Expect to Ease Standards for Large Business Loans in 2018 
 

Lenders expect to ease underwriting standards for business loans to large companies in 2018 but tighten standards for commercial real-estate and some consumer loans, according to a Federal Reserve survey released Monday.

 
Lawmaker Seeks Probe into Fake Comments on Payday-Lending Rule 
 

The top Democrat on the House Energy and Commerce Committee asked the Trump administration to investigate fake online comments uncovered by The Wall Street Journal on a rule to restrict high-interest payday lending

 
Trump Soon to Nominate Tax Lawyer Charles Rettig to Run IRS 
 

President Donald Trump will nominate Charles Rettig, a California tax lawyer, to run the Internal Revenue Service, a person familiar with the matter said Monday.

 
Bitcoin Lawyer Marco Santori Moves From Law Firm Cooley to Startup 
 

Marco Santori, a partner at the law firm Cooley LLP and one of the best-known lawyers in the digital-currency sector, is leaving to become president of bitcoin-services company Blockchain.

 
 

(END) Dow Jones Newswires

February 06, 2018 00:15 ET (05:15 GMT)

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