Bank Stocks Dive After Maxine Waters Threatens End To Regulation-Rollback

By Tyler Durden

US financials stocks have tumbled from opening higher after Rep. Maxine Waters – soon to to take over the powerful House Financial Services Committee when the new Congress convenes in January – laid down the law on what will and won’t happen under Democrat rule.

“Make no mistake, come January, in this committee the days of this committee weakening regulations and putting our economy once again at risk of another financial crisis will come to an end,” Waters said.

After the squeeze, it’s been one-way street lower since the Dems took the House…

Still a long way to go to unwind the Trump bump… (JPMorgan still up 60% since the election)