According to reports, the US Department of Justice is considering joining a lawsuit led by the attorneys general of Texas and 12 other ruling Republican states. The lawsuit targets asset management giants BlackRock and State Street Bank. People familiar with the matter revealed that Ministry of Justice officials have been weighing whether to intervene in the case in recent weeks, but no final decision has been made. In the lawsuit, the states mentioned above alleged that BlackRock and State Street Bank used their market influence to pressure coal producers to cut production on the grounds of climate-related targets, which in turn caused electricity prices to rise. Affected by this news, BlackRock's stock price fell for a while, but then recovered its losses, rising more than 1% on Friday; State Street Bank's stock price also rebounded slightly after hitting an intraday low.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.