{"id":5757,"date":"2018-12-24T02:31:06","date_gmt":"2018-12-24T02:31:06","guid":{"rendered":"http:\/\/www.styledeals.co.uk\/blog\/mnuchin-calls-big-us-banks-after-huge-stock-market-falls\/"},"modified":"2018-12-24T02:31:06","modified_gmt":"2018-12-24T02:31:06","slug":"mnuchin-calls-big-us-banks-after-huge-stock-market-falls","status":"publish","type":"post","link":"https:\/\/www.styledeals.co.uk\/blog\/mnuchin-calls-big-us-banks-after-huge-stock-market-falls\/","title":{"rendered":"Mnuchin calls big US banks after huge stock market falls"},"content":{"rendered":"\n
\n
<\/p>\n

\"USImage copyright<\/span>
\n Getty Images<\/span><\/p>\n

<\/span>

Image caption<\/span>
\n
\n US Secretary of Treasury Steven Mnuchin tweeted out details of his conversations, saying that the banks had “ample liquidity”.
\n <\/span>
\n <\/figcaption><\/figure>\n

US Treasury Secretary Steven Mnuchin has made calls to the heads of the country’s six largest banks, a move to reassure investors after huge falls in US stocks.<\/p>\n

Last week, US stocks suffered one of the worst weekly falls in a decade as an interest rate rise and US-China trade tensions rattled markets.<\/p>\n

Mr Mnuchin said banks confirmed they had “ample liquidity” for operations. <\/p>\n

It also comes amid a partial government shutdown over spending plans.<\/p>\n

“The [bank’s chief executives] confirmed that they have ample liquidity available for lending to consumer, business markets, and all other market operations,” the Treasury said in a statement attached to a tweet from Mr Mnuchin.<\/p>\n

“[Mr Mnuchin] also confirmed that they have not experienced any clearance or margin issues, and that the markets continue to function properly,” the Treasury’s statement said. <\/p>\n

<\/p>\n

Image copyright<\/span>
\n Sarah Porter<\/span><\/p>\n

<\/span><\/p>\n<\/figure>\n

All three US indexes closed lower last week, with the technology-focused Nasdaq down 20% since its peak, placing it in so-called “bear market” territory. <\/p>\n

US investors are worried about a range of factors including slowing economic growth at home and internationally. <\/p>\n

In addition, a partial US government shutdown began at midnight on Friday after opposition Democrats resisted President Donald Trump’s demand for $5bn (\u00a34bn) for his Mexico border wall.<\/p>\n