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Marketplace All-in-One

Transportation Secretary says rebuilding effort will not be quick

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 27 March 2024

⏱️ 1 minutes

🧾️ Download transcript

Summary

Stocks rise; Secretary Buttigieg says government is starting the process of releasing funding for Maryland; Fitch warns about bank multifamily loan exposure; Japanese yen falls.

Transcript

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0:00.0

This is the Marketplace Minute. I'm Justin Ho.

0:05.8

Stocks closed up on Wednesday. The Dow gained one and two-tenths percent. The

0:10.3

S&P added almost nine-tenths percent, and the NASDAQ rose half a percent.

0:15.0

Transportation Secretary Pete Budajeg says the government is starting the process of releasing funding to the state of Maryland,

0:21.0

after a shipping vessel collided with the

0:23.2

Francis Scott Key Bridge and caused it to collapse.

0:26.2

But a judge said the rebuilding effort will not be easy, quick or cheap.

0:30.2

The ratings agency Fitch says banks with a lot of loans for apartment buildings

0:34.8

could post losses this year. That's in large part because rents have been

0:38.6

cooling down and as a result apartment values have been falling.

0:43.0

And the Japanese yen fell to its lowest level versus the dollar in 34 years.

0:48.0

That's because up until recently, Japan's Central Bank has kept interest rates low,

0:52.0

while the US has been raising them.

0:55.1

I'm Justin Ho, with the marketplace minute. You're going to.

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