U.S. Stocks Fall Hard After Last Week’s Big Sell-Off On Wall Street

By  //  December 24, 2018

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ABOVE VIDEO: U.S. stocks on Monday fell hard, extending last week’s big sell-off amid investor concerns about a meeting of top financial leaders dubbed the “Plunge Protection Team.”

(FOX BUSINESS) – U.S. stocks on Monday fell hard, extending last week’s big sell-off amid investor concerns about a meeting of top financial leaders dubbed the “Plunge Protection Team.”

Late Sunday, Treasury Secretary Steven Mnuchin contacted the CEOs of the nation’s six largest banks and convened a meeting of the President’s Working Group on Financial Markets. That group, which includes officials in the Federal Reserve, the Securities and Exchange Commission and the Commodity Futures Trading Commission, met to ensure the financial system had adequate liquidity.

Mnuchin “confirmed that they have not experienced any clearance or margin issues and that the markets continue to function properly,” the Treasury Department said in a statement.

Last week the blue-chip Dow Jones Industrial Average plunged 6.9 percent, while the broader S&P 500 tumbled 7.1 percent and the tech-heavy Nasdaq Composite plummeted 8.4 percent.

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