ABN Amro is on the verge of closing its US domestic equities business with the loss of over 100 jobs, in the latest retrenchment by the Dutch bank from its non-core investment banking activities.

Speculation about a possible closure of the business has been rife in the US for several weeks, prompting a sharp fall in business activity at the firm. ABN Amro denied that its traders and sales staff in US equities had gone on strike, and declined to comment on whether the business would be closed.