Shares of banks and other financial institutions fell as traders hedged their bets on the outlook for Federal Reserve policy.

Cleveland Fed President Loretta Mester said she still expects three interest rate cuts in 2024, but added it was a close call. Mester said May would be too early for a rate cut but did not rule out a rate cut in June.


Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

04-02-24 1756ET