Shares of banks and other financial institutions slipped as interest-rate fears kept global markets on edge.
Banks typically fare well when interest rates rise, but one strategist said the path is not as clear this time around. "The problem the financials have right now is they're in a little bit of no-man's land," said Joe Kinahan, chief market strategist at TD Ameritrade.
"We all expect rates to go higher but it's going to be (gradual). In the meantime, you don't want to buy them too quickly."
Commercial and car insurance firm Travelers posted a 2% increase in fourth-quarter net income.
Singapore cryptocurrency exchange Crypto.com said cybercriminals broke into 483 customers' accounts and stole about $35 million worth of bitcoin, ethereum and other digital currencies.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
01-20-22 1716ET
