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June 25th, 2020
Insight on Plan Design & Investment Strategy Every Weekday
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| Market Mirror |
Wednesday, the Dow lost 710.16 points (2.72%) to finish at 25,445.94, the NASDAQ closed 222.20 points (2.19%) lower at 9,909.17, and the S&P 500 decreased 80.96 points (2.59%) to 3,050.33. The Russell 2000 was down 49.60 points (3.45%) at 1,389.74, and the Wilshire 5000 fell 840.56 points (2.63%) to 31,105.62.
The price of the 10-year Treasury note was up 4/32, decreasing its yield to 0.683%. The price of the 30-year Treasury bond increased 1 3/32, bringing its yield down to 1.437%.
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DOL Seeks Stricter Limits on ESG Investing Under ERISA
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The proposed regulation would “confirm that ERISA requires plan fiduciaries to select investments and investment courses of action based solely on financial considerations relevant to the risk-adjusted economic value of a particular investment.” 
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ON THIS DATE: In 1788, Virginia ratified the U.S. Constitution and became the 10th state of the United States. In 1868, Florida, Alabama, Louisiana, Georgia, North Carolina and South Carolina were readmitted to the Union. In 1876, Native American forces led by Crazy Horse and Sitting Bull defeated the U.S. Army troops of Lieutenant Colonel George Armstrong Custer in the Battle of the Little Bighorn near southern Montana’s Little Bighorn River. In 1876, in Philadelphia, Alexander Graham Bell demonstrated the telephone for Sir William Thomson (Baron Kelvin) and Emperor Pedro II of Brazil at the Centennial Exhibition. In 1942, following his arrival in London, Major General Dwight D. Eisenhower took command of U.S. forces in Europe. In 1950, North Korea invaded South Korea initiating the Korean War. In 1951, in New York City, the first regular commercial color TV transmissions were presented on CBS using the FCC-approved CBS Color System. The public did not own color TV’s at the time. In 1981, the U.S. Supreme Court decided that male-only draft registration was constitutional. In 1990, the U.S. Supreme Court upheld the right of an individual, whose wishes are clearly made, to refuse life-sustaining medical treatment. “The right to die” decision was made in the Curzan vs. Missouri case. In 1993, Kim Campbell took office as Canada’s first woman prime minister. In 1998, the U.S. Supreme Court rejected the line-item veto thereby striking down presidential power to cancel specific items in tax and spending legislation.
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