Daniel Tarullo, a U.S. Federal Reserve official said that five years after Lehman Brothers collapsed, regulators' top priority should be cracking down on systemic threats posed by short-term bank funding.
The stock market is falling at midday as investors wait for more clarity from Federal Reserve officials and look ahead to a budget fight in Washington. The Fed this week shocked markets by leaving in place its bond-buying program.
The Labor Department that 29 states added jobs, while Montana showed no net gain or loss in August. Unemployment rates rose in 18 states, fell in 17 and were unchanged in 15. "The picture is decidedly mixed," said Jim Diffley, chief US regional economist at IHS Global Insight. "We're still optimistic about the improvement (in hiring), but it's been slow."
Shares of security company FireEye more than doubled to $43.66 in the company's IPO debut on the Nasdaq.