Financial stocks fall as investors watch rates – Finance Roundup


Shares of banks and other financial institutions fell as cryptocurrencies remained in the spotlight.

Customers withdrew funds from over the weekend after the company’s chief executive said the cryptocurrency exchange mishandled a roughly $400 million transaction.

Meanwhile, FTX’s implosion last week and reports that it used client funds to back an affiliate’s risky investments have exposed the company and its founder to potential criminal liability, lawyers say. specialized in white collar criminal law.

Shares of Chinese property stocks soared amid reports that officials in Beijing have approved sweeping measures aimed at aiding the beleaguered sector.

Warren Buffett’s Berkshire Hathaway spent about $9 billion on the stock market in the third quarter, with about a third of that money going to energy companies Occidental Petroleum and Chevron, according to filings.

Overall, Berkshire spent $66 billion buying stocks in the first nine months of the year. This is more than 13 times its expenditure over the same period in 2021.

The consumer finance arm of China’s Ant Group plans to raise the equivalent of $1.5 billion in new capital, scaling back its fundraising ambitions after a major state-backed investor pulled out from a previous plan.

Write to Amy Pessetto at


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