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Six Banks Fined $4.3B in Foreign Exchange Probe; AT&T Halts Internet Expansion

By: , dated November 12th, 2014

Stocks retreat from record closes as stocks closed mostly lower. The Dow Jones and S&P 500 also broke their 6-day winning streak today. Stocks ended lower after six major banks were fined $4.3 billion in a foreign exchange probe, these banks are JPMorgan Chase (JPM), Citigroup (C), HSBC (HBC), Royal Bank of Scotland (RBS), UBS (UBS), and Bank of American (BAC). AT&T (T) announced today that they will be halting their investment on broadband Internet expansion until federal rules on open Internet are further clarified. AT&T’s CEO stated that they would not move further with this investment until there is more clarity.

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