Shares of banks and other lenders and money managers fell amid concerns about the British pound sterling.
The pound fell to a six-week low against the dollar after the European Union delivered an ultimatum to Britain on Thursday, demanding it withdraw a proposal before British lawmakers that would breach the Brexit divorce agreement.
Sharp moves in major trading pairs -- sterling has lost about 5% against the dollar in a little over a week -- can have ripple effects across global markets.
Citigroup said Jane Fraser, president and head of its global consumer bank, will succeed Michael Corbat and become the first woman to run a major Wall Street bank, when the current head retires in February. Activist investment firm Arjuna Capital applauded the promotion plans as a long-delayed follow-through on pledges to diversify leadership on Wall Street, as reported earlier.
JPMorgan Chase & Co. executives told senior employees of the bank's giant sales and trading operation that they and their teams must return to the office by Sept. 21, The Wall Street Journal reported.
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