Bonds & Stocks
Wall Street kicked off the week on a sour note, with stocks, bonds and the dollar falling as traders rushed to the safety of precious metals after the Trump administration escalated its attack on the Federal Reserve, raising concern about central bank independence.
Economy
Capital One Financial Corp., American Express Co. and shares of other US banks sank after President Donald Trump called on credit-card companies to cap interest rates at 10% for a year, a move that could wipe out billions in profits for one of the banking industry’s biggest businesses. Capital One, the largest US card issuer, tumbled as much as 8.2% in New York.
World
French electricity contracts surged after storm damage led to extended outages at a key nuclear plant just as a cold snap is set to push up demand. French month-ahead power prices jumped by about 10% to the highest since February 2025 after damage from storm Goretti last week caused prolonged outages at the Flamanville nuclear site in northwest France. Three reactors are offline until at least Feb. 1, according to Electricite de France SA.