Frankfurt Several weak company figures spoiled the mood for investors on Wall Street at the start of the week. The Dow Jones index of standard values closed 0.2 percent lower on Monday at 33,618 points. The tech-heavy Nasdaq, on the other hand, advanced 0.2 percent to 12,256 points. The broad S&P 500 ended trading little changed at 4138 points. Meanwhile, US regional banks saw large swings after Friday’s rebound.
The stocks of the regional bank PacWest initially rose by up to 30 percent after the US lender drastically cut its dividend. “Given the stock’s extreme volatility recently, we believe this dividend cut makes sense and can support the pace of capital accumulation,” said analysts at RBC Capital Markets.
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