NEW YORK, April 26 (UPI) — Some financial firms took a hit on the New York Stock Exchange Monday after Democratic U.S. senators reached a deal to regulate derivative trading.
If approved, the deal would force banks to spin off their swap desks or forfeit discount government loans at the Federal Reserve.
Facing a revenue loss, banks as a group fell 2.45 percent. Citigroup Inc. was among the losers. After the Treasury Department said it would divest itself of 1.5 billion Citigroup shares, the bank’s stock fell 5.14 percent.
By close, the Dow Jones industrial average added 0.01 percent, 0.75 points, to 11,205.03. The Standard & Poor’s 500 lost 0.43 percent, 5.23, to 1,212.05. The Nasdaq composite index lost 0.28 percent, 7.20, to 2,522.95.
On the New York Stock Exchange, 1,429 stocks advanced and 1,616 declined on a volume of 5.6 billion shares traded.
The benchmark 10-year Treasury note rose 2/32 to yield 3.809.
The euro rose to $1.3401 from Friday’s $1.3325. Against the yen, the dollar fell to 93.956 yen from Friday’s 94.03 yen.
In Japan, the Nikkei 225 index rose 2.3 percent, 251.33, to 11,165.79.
In Britain, the FTSE 100 index rose 0.53 percent, 30.20, to 5,753.85.
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