Wall Street plunges on fears of more global lockdowns?, Dow falls 900 points

[Mary Wilson]

Sept. 21, 2020, 9:45 AM CDT / Updated Sept. 21, 2020, 11:22 AM CDT / Source: CNBC.com
By Fred Imbert, CNBC

Stocks fell sharply on Monday as fears about the worsening coronavirus as well as uncertainty on further fiscal stimulus rattled traders.

The Dow Jones Industrial Average dropped 900 points in the morning trading session, or 3.3 percent. The S&P 500 lost 2.6 percent, while the Nasdaq Composite fell 2.3 percent. The major stock averages were all coming off their third consecutive losing week, the market’s longest weekly slide since 2019.

https://www.nbcnews.com/business/ec...-more-global-lockdowns-dow-falls-850-n1240604

 

[sharon sanders]

I think it is Deutsche Bank failure fears. But that is just my opinion. The financial industry is desperate to keep everything floating.

Please see:

Is Deutsche Bank going down and what does this mean for the European banking system? September 20, 2020

 

[Mary Wilson]

Global banks defy U.S. crackdowns by serving oligarchs, criminals and terrorists

By ICIJ
Image: ICIJ / BuzzFeed News - Alicia Tatone
September 20, 2020

Secret U.S. government documents reveal that JPMorgan Chase, HSBC and other big banks have defied money laundering crackdowns by moving staggering sums of illicit cash for shadowy characters and criminal networks that have spread chaos and undermined democracy around the world.

The records show that five global banks — JPMorgan, HSBC, Standard Chartered Bank, Deutsche Bank and Bank of New York Mellon — kept profiting from powerful and dangerous players even after U.S. authorities fined these financial institutions for earlier failures to stem flows of dirty money.

https://www.icij.org/investigations...y-serving-oligarchs-criminals-and-terrorists/