Bank Stocks Tumble After Trump Says "Open To Breaking Up Big Banks"

What Treasury Secretary Mnuchin giveth, President Trump taketh away...

0810ET: *MNUCHIN SAYS `THANK ME' FOR RECENT RISE IN BANK STOCKS

 

0951ET: *TRUMP SAYS HE'S ACTIVELY CONSIDERING BREAKING UP BIG BANKS

As Bloomberg reports, President Donald Trump said he is actively considering breaking up giant Wall Street banks, giving a push to efforts to revive a Depression-era law separating consumer lending and investment banking.

“I’m looking at that right now,” Trump said Monday in an interview with Bloomberg News in the Oval Office. “There’s some people that want to go back to the old system, right? So we’re going to look at that.”

The reaction is clear as the machines dump the Big banks...

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