Wall Street pointed lower as a wobbly banking sector continued to be the focus in the U.S. and abroad
when the bank's biggest shareholder said it would not invest more money.
U.S. Treasury Secretary Janet Yellen told a Senate committee on Thursday that the nation’s banking system “remains sound” and Americans “can feel confident” about their deposits. All the stress in the banking system has raised worries about a potential recession because of how important smaller and mid-sized banks are to making loans to businesses across the country. Oil prices have slid this week on such fears.
In Asia, Hong Kong's Hang Seng jumped 1.8% to 19,548.26 and the Shanghai Composite index added 0.7% to 3,450.55.
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