Shares of banks and other financial institutions fell after Federal Reserve Chairman Jerome Powell raised the specter of revived inflation pressure and further rate hikes.
Officials are committed to achieving a rate setting that is "sufficiently restrictive" to bring inflation down to its 2% goal over time, The Wall Street Journal reported.
"We are not confident that we have achieved such a stance," Powell warned, at a conference in Washington on Thursday.
Cryptocurrency lending platform Celsius Network won court approval to end its bankruptcy case and release most of its remaining cryptocurrency back to hundreds of thousands of customers.
Billionaire and investing legend Warren Buffett traded stocks in his personal account that his company Berkshire Hathaway was also buying and selling despite public disavowals of such a strategy, ProPublica reported.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
11-09-23 1741ET
