Shares of banks and other financial institutions ticked up in volatile trading, amid doubts about the sustainability of recent equity and bond-market gains.
Invesco shares plunged after the money manager was dragged into the red by impairments on intangible assets related to the acquisition of mutual-fund management contracts. Invesco's operating revenue also slowed on a sequential basis due to lower average assets under management and a shift to lower yield products.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-23-24 1733ET