Financial ETFs Gain Amid Bank Stress Test Results

The results of the Federal Reserve’s annual stress tests done last week on some of the largest banks in the U.S. came in on Monday and the financial sector rallied amid the news, with some financial ETFs climbing nearly 4%.
Investors were concerned prior to the announcements that any of the six-largest banks would be required to slash their quarterly dividends to meet the Fed’s rigid capital requirements, put in place to stymie a widespread financial disaster that might occur in the midst of a severe economic downturn.
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