The biggest banks in the U.S. moved in unison to conserve cash through the first half of the yearMarch 16, 2020, 3:03 PM7 min read Global markets and businesses big and small opened the week to a landscape seemingly altered by the coronavirus pandemic. A host of retail chains have shut their doors or diminished hours of business. Banks are taking steps to keep cash on hand, lots of it. Markets in Asia, Europe and the U.S. are plunging. Following is a quick look at how the outbreak is impacting the financial and business sector, as well as millions of workers and customers. FINANCE: The biggest banks in the U.S. moved in unison to conserve cash through the first half of the year. The Financial Services Forum, which represents Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JP Morgan Chase, Morgan Stanley, State Street, and Wells Fargo, said members would suspend stock buybacks for first quarter and the second quarter due to the virus outbreak. In a prepared statement, the group said the decision “is consistent with our collective objective to use our significant capital and liquidity to provide maximum support to individuals, small businesses, and the


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