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SEC, Congress Investigate Thursday Stock Market Boomerang

Today, the Securities and Exchange Commission met with the heads of the major U.S. stock exchanges, including the New York Stock Exchange and alternative venues

Jul 31, 2020
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Today, the Securities and Exchange Commission metwith the heads of the major U.S. stock exchanges, including the New York Stock Exchange and alternative venues like Nasdaq and the Chicago Board Options Exchange. They discussed Thursday’s stock exchange event, where the Dow Jones Industrial Average dropped 1,000 points before rebounding to a 348-point loss, all in a matter of minutes. The regulator said it has not yet determined what happened, and today’s meeting did not come to any conclusions.
Congress is taking the issue up this week as well. Tomorrow, the same executives who met with the SEC today will appear at a hearing of the House Financial Services Capital Markets Subcommittee, called by Rep. Paul Kanjorski (D-Pa.). And last week, Sens. Ted Kaufman (D-Del.) and Mark Warner (D-Va.) askedthe SEC and the Commodity Futures Trading Commission to investigate the market event in Sen. Chris Dodd’s (D-Conn.) financial regulatory reform bill.
Camilo Wood

Camilo Wood

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Camilo Wood has over two decades of experience as a writer and journalist, specializing in finance and economics. With a degree in Economics and a background in financial research and analysis, Camilo brings a wealth of knowledge and expertise to his writing. Throughout his career, Camilo has contributed to numerous publications, covering a wide range of topics such as global economic trends, investment strategies, and market analysis. His articles are recognized for their insightful analysis and clear explanations, making complex financial concepts accessible to readers. Camilo's experience includes working in roles related to financial reporting, analysis, and commentary, allowing him to provide readers with accurate and trustworthy information. His dedication to journalistic integrity and commitment to delivering high-quality content make him a trusted voice in the fields of finance and journalism.
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