Shares of banks and other financial institutions fell as volatility returned to global stock markets as consumer-confidence data spurred recession fears.
The Financial Select Sector SPDR exchange-traded fund, which tracks the financial industry group of the S&P 500, fell by more than 1%, and is down about 19% for the year to date.
Credit Suisse Group plans to cut technology expenditure to spend more targeting ultrarich customers, in its latest effort to stabilize an operation hobbled by scandals and missteps.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-28-22 1710ET
