Mnuchin calls big US banks after huge stock market falls


US Treasury Secretary Steven Mnuchin has made calls to the heads of the country’s six largest banks, to reassure investors after huge falls in the country’s stocks.

Last week, US stocks suffered one of the worst weekly falls in a decade as interest rate rise and US-China trade tensions rattled markets.

It also comes amid a partial government shutdown over spending plans. Mr Mnuchin confirmed they have not experienced any clearance or margin issues, and that the markets continue to function properly.

Mr Mnuchin is now set to meet the President’s Working Group today to discuss coordination efforts to assure normal market operations.

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