Politics and Markets 10/06/24

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More on today’s markets:

ZEEKR Intelligent Technology Holding ( NYSE:ZK ) is a Chinese electric vehicle stock with one of the biggest share price moves after Beijing’s stimulus announcements rattled the broader Chinese and Hong Kong markets. EV stock is up more than 60% in the past two weeks and is trading above its IPO price level of $21.

Sen. Elizabeth Warren (D-MA), who has been a longtime critic of Wall Street banks, has called on one of Citigroup’s (NYSE:C) regulators to limit the company’s growth as it faces numerous problems regulation. In a letter to Acting Comptroller of the Currency Michael Hsu, Warren argued that Citi ( C ) is struggling to fix a series of regulatory issues that focus on data, controls and other issues that demonstrate the bank has become “too big to be managed”. Reuters reported on the letter earlier on Thursday.

Two GOP senators are demanding information from the Federal Reserve Bank of New York about how it processes accounts at the Central Bank of Iraq, following a media report that it failed to implement anti-money laundering controls that would have allowed Iran to avoid US sanctions.