Standard Chartered Shares Plummet After Lawmaker Alleges Illegal Payments

Standard Chartered PLC shares experienced a significant decline on Friday, dropping by 8.21% to close at $1,291.50. This follows a period of strong growth for the bank, which has seen its stock soar in recent weeks. The latest drop is attributed to allegations that Standard Chartered engaged in illegal payments to known terrorists, sparking a formal inquiry from U.S. Representative Elise Stefanik.