Shares of banks and other financial institutions rose, recouping some of the deep losses from the September selloff.
The long-awaited criminal trial of FTX founder Sam Bankman-Fried kicked off with the defense and prosecution clashing over whether the fallen cryptocurrency executive was a deeply flawed company manager or the architect of a historic fraud.
Hightower became the latest wealth-management firm to lay off workers, confirming plans this week to trim its head count by about 6%.
The surge in Treasury yields weighed on wealth-management firms in recent weeks as clients withdrew from cash sweep accounts, seeking higher yields elsewhere.
Write to Rob Curran at [email protected]
Read the full article here