Financials Flat on Fed Fears — Financials Roundup

Shares of banks and other financial institutions were flat, lagging the broad market amid fears that further Federal Reserve policy tightening would keep regional banks under stress.

Investment bank Goldman Sachs is preparing for more layoffs, as Wall Street braces for a prolonged deal-making drought. Shares of regional banks were flat after one Fed official, Bank of Richmond President Thomas Barkin, warned that the fight against inflation would drag on longer than most people anticipate.

A…