President Donald Trump held a conference call Wednesday with top executives of three major Wall Street banks as the stock market plunged and the bond market...
President Donald Trump held a conference call Wednesday with top executives of three major Wall Street banks as the stock market plunged and the bond market sent a recession signal, Bloomberg reported Friday. Trump held the call with JPMorgan Chase & Co.'s JPM, +2.40% Jamie Dimon, Bank of America Corp.'s BAC, +2.97% Brian Moynihan, and Citigroup Inc.'s C, +3.52% Michael Corbat, the report said.
Stocks tumbled Wednesday, with the Dow Jones Industrial Average DJIA, +1.20% falling 800 points, or 3.1%, to log its biggest one-day percentage drop of the year, while the S&P 500 SPX, +1.44% dropped 2.9%, as the yield on the 10-year Treasury yield briefly dipped below the 2-year note yield, a phenomenon seen as a potential warning of a future recession.
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