Shares of banks and other lenders and money managers fell as global stock markets diverged.
Chinese indexes extended their winning streak, but the relentless increase in Covid-19 cases and hospitalizations in major American states weighed on U.S. markets. The Shanghai Composite has risen 16.5% in eight straight sessions of gains through Thursday.
Even within the U.S. stock market, companies who generate the majority of their revenue overseas, including many tech companies, were stronger than domestically focused companies.
Brokerage Goldman Sachs is among those that divides the U.S. stock market into "global" and "domestic" stocks.
Investment firm KKR's entrance into the multi trillion dollar insurance market through the acquisition of Global Atlantic is a "meaningful growth opportunity," said analysts at brokerage Jefferies, in a note to clients.
Write to Rob Curran at rob.curran@dowjones.com
