Treasury secretary summons 'Plunge Protection Team' as markets tumble

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By Jason Lange
Reuters
Sunday, December 23, 2018

WASHINGTON -- U.S. President Donald Trumps Treasury secretary called top U.S. bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the "Plunge Protection Team."

U.S. stocks have fallen sharply in recent weeks on concerns over slowing economic growth, with the S&P 500 index on pace for its biggest percentage decline in December since the Great Depression.

... Dispatch continues below ...



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"Today I convened individual calls with the CEOs of the nation’s six largest banks," Treasury Secretary Steven Mnuchin said on Twitter shortly before financial markets were due to open in Asia. ...

... For the remainder of the report:

https://www.reuters.com/article/us-usa-treasury/top-trump-official-calls...

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