Banks Drag Markets as Fed Looms Over Capital Rules
Wall Street closed lower with the S&P 500 down 0.1 percent and the Dow off 0.7 percent as banks, industrials and tech led losses. The Nasdaq rose 0.8 percent while the Russell 2000 gained 0.9 percent amid mixed bond yields. The Fed will let a temporary capital break for big banks expire on March 31 and may propose changes to the supplementary leverage ratio to address reserve growth from stimulus.
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DeWine appoints Jenifer French as Ohio utility chair
Gov. DeWine named Jenifer French to lead the Public Utilities Commission of Ohio, succeeding Sam Randazzo who resigned amid a federal probe into a $60 million bribery scheme tied to FirstEnergy. French, a former Franklin County judge, lacks electric industry background but is praised for fact driven decisions. Ohio Consumers Power Alliance urged more consumer experience and oversight.
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Roundup on antitrust push targets big industries and Visa probe
Washington lawmakers attack concentration across sectors from airlines and banks to book publishers and meat firms. The piece notes major firms' market shares and a broad anti monopoly push as Democrats press action. It also reports Visa being probed by the DOJ over debit routing and Durbin regulated fees.
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