Environmental, social, and governance-focused funds, which were once deemed the darlings of Wall Street, may be on the way out, media reports said.
They're currently weathering a "perfect storm of negative sentiment," said Robert Jenkins, head of global research at Lipper, a financial data provider, CNN reported.
Despite the gloomy forecast, Jenkins remains optimistic. He sees this as a natural phase of the market's evolution. A new, more efficient system is taking sha...
Wall Street darlings, ESG funds may be on the way out
Wall Street stocks have fallen, dragged down by banks. The S&P 500 financial sector index has lost 2.2 per cent while the KBW regional banking index has tumbled 3.8 per cent, the media reported.
The Dow Jones has shed 254 points to 31,992, a 0.8 per cent drop while the S&P 500 is down nearly 20 points, or 0.5 per cent, at 3,942, and the Nasdaq is flat at 11,709, The Guardian reported.
Among big US banks, Goldman Sachs is down 1.9 per cent, Citigroup has lost 2.4 per cent and Wel...
Banks drag down Wall Street stocks
