Big Banks Lose $52 Billion, As Dow Falls More Than 540 Points

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 9 March 2023

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for March 9. U.S. stocks turned sharply lower, after new data showing strength in the labor market - and ahead of tomorrow’s monthly jobless report, Big banks lost billions of dollars. Plus, GOP lawmakers are asking for details about U.S. financial aid to Ukraine. DC reporter Daniella Cheslow joins host Annmarie Fertoli to discuss. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:21.6	Apply in minutes at Monso.com slash business. To apply you must be a sole trader or director
0:26.6	of a limited company, UK Business is only terms and conditions apply.
0:35.4	The Dow drops more than 540 points as investors prepare for Friday's monthly jobs report.
0:41.6	Plus President Biden unveils his budget plan and braces for battle in Congress.
0:46.8	And GOP lawmakers seek more details on USA to Ukraine.
0:51.6	How can we be sending billions of dollars to another country when we need help in our country
0:59.6	and our financial houses amount?
1:01.5	It's Thursday, March 9. I'm Ann Marie for Toley for the Wall Street Journal.
1:05.4	This is the PM edition of What's News, the top headlines and business stories that moved the world today.
1:10.9	US stocks turned sharply lower and ended the day with losses ahead of tomorrow's jobs report.
1:26.0	The Dow fell more than 500 points for the second time this week.
1:29.8	The decline comes after the weekly jobless data showed unemployment claims remain historically low,
1:35.2	given strong economic data to start the year, fed-chaired Jerome Powell said officials are
1:39.6	keeping their options open regarding the size of rate increases.
1:44.4	Amid the broad route across financial stocks, the nation's four largest banks lost 52 billion
1:49.6	dollars in market value and trading today. JPMorgan Chase had the steepest losses at about
	...

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