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Financials fall into bear market, joining materials and energy stocks

Saturday, December 15, 2018, 8:45 AM

Stocks in the financial sector had a tough day on Friday, falling into bear-market territory as a tumultuous week on Wall Street came to an end. Financials fell 1 percent on Friday, closing down 20.06 percent from a 52-week high reached in January. The decline was driven by a fall in bank shares amid worries about slowing global economic growth.
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Trump names Mulvaney acting chief of staff

Saturday, December 15, 2018, 8:44 AM

President Trump abruptly named Mick Mulvaney, currently the director of Office of Management and Budget, as acting White House chief of staff, elevating a-conservative ideologue with congressional experience to steer the administration through a treacherous phase. Mulvaney wrote on Twitter: "This is a tremendous honor. I look forward to working with the President and the entire team. Its going to be a great 2019!"
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Plain speaking! Govt raising issues no threat to RBI autonomy: Jaitley

Saturday, December 15, 2018, 8:42 AM

Finance minister Arun Jaitley on Friday denied any government intrusion into the Reserve Bank of India's (RBI's) autonomous policy turf, arguing that making suggestions on crucial matters wasn't an aberration and that the economic system works through communications and dialogues. "We can get satisfaction that inflation has been kept below the Monetary Policy Committee's target," Arun Jaitley said.

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