US House Speaker: No need for blanket insurance on all bank deposits

In an interview with CNBC on Tuesday, US House Speaker Kevin McCarthy said that there was no need for blanket insurance on all bank deposits "at this moment in time," as reported by Reuters.

Market reaction

There seems to be a negative reaction from markets to this comment. As of writing, US stock index futures were down between 0.1% and 0.2%.

Meanwhile, the US Dollar Index, which measures the US Dollar's performance against a basket of six major currencies, was last seen losing 0.3% on the day at 102.50.