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International Business Times
International Business Times
Business

Bessent's Plan To Increase The Amount Spent On Buybacks Of U.S. Debt Didn't Reassure Investors. Stocks Dropped.

Scott Bessent
Scott Bessent's plan to increase the amount of funds spent on accelerated buybacks on government debt failed to reassure investors on Thursday.

Stocks dropped on Thursday after Treasury Secretary Scott Bessent's plan to increase the amount of funds spent on accelerated buybacks on government debt failed to reassure investors on Thursday.

The S&P 500 fell 0.87%, while the tech-heavy Nasdaq Composite did so 1%. The Dow Jones Industrial Average underperformed, sinking 1.32%.

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