As CNBC reports, the California Democrat said efforts to loosen the reins on Wall Street financial institutions won’t be tolerated should she be the committee chair, as expected.
“Make no mistake, come January, in this committee the days of this committee weakening regulations and putting our economy once again at risk of another financial crisis will come to an end,” Waters said.
And the reaction was swift…
The Financial Select Sector SPDR ETF (XLF) was trading at $26.58 per share on Wednesday afternoon, down $0.15 (-0.56%). Year-to-date, XLF has declined -4.42%, versus a 2.03% rise in the benchmark S&P 500 index during the same period.
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