White House says it’s monitoring short-selling pressure on bank stocks

White House press secretary Karine Jean-Pierre on Thursday indicated the Biden administration is paying attention to the banking sector’s stocks
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when she was asked if the administration was considering imposing a stop on short-selling of bank stocks like there was during the 2008 financial crisis. “The administration is going to closely monitor the market developments, including the short-selling pressure on healthy banks,” she said during a press briefing, adding that reporters should refer to the Securities and Exchange Commission for information on any possible actions. On Wednesday, a Reuters report said the SEC is not currently contemplating a short-selling ban, as worries over bank soundness hit share prices.