US Treasury Secretary has investor protection in mind
US Treasury Secretary Janet Yellen is not planning any immediate consequences from the volatile course around the video game retailer Gamestop. You and the supervisory authorities must first “understand exactly” what has happened in the markets, Yellen told TV broadcaster ABC on Thursday. “We will discuss whether recent events require further action.” However, it must be ensured that the capital markets function and investors are protected.
The new Treasury Secretary in the administration of US President Joe Biden wants to consult with the chief financial overseers on the case this Thursday. Speculative purchases had recently driven the shares of Gamestop and other stocks to dizzying heights and then made them fluctuate sharply. Small investors had made concerted purchases to force hedge funds to dissolve bets on the decline of the Gamestop price. Silver and the crypto currency Ripple have also recently seen violent price movements on the market.
