Sliding bank shares dragged Wall Street down with investors worried about contagion from the Silicon Valley Bank collapse
Dow down 0.28%, S&P 500 down 0.15%, Nasdaq up 0.45%
NEW YORK, March 13 - Sliding bank shares dragged Wall Street down on Monday with investors worried about contagion from the Silicon Valley Bank collapse, but trade was choppy and the Nasdaq composite actually ended higher as some sectors benefited from hopes the Federal Reserve could ease up on interest rates hikes.sudden shutdown on Friday after a failed capital raise had investors worried about risks to other banks from the Fed's sharp rate hikes over the last year.
Regulators over the weekend stepped in to restore investor confidence in the banking system, saying SVB's depositorsTo some investors, the Fed's decision next week will also hinge on inflation data due this week. "If we get shockingly bad Consumer Price Index and Producer Price Index, the Fed is going to find itself in a tough spot or a much tougher spot that it even finds itself in ahead of those prints," said Orion Advisor Solutions CIO Timothy Holland.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Wall Street rises in choppy trade as markets weigh rate hike pause, bank contagion risksShares of big U.S. banks, including JPMorgan Chase & Co, Citigroup, and Wells Fargo fell between 1% and 6.3%.
Les mer »
Wall Street Gets Tough on Gap Inc.While retail analysts cite market share declines, lack of creativity and at Old Navy 'a fall from grace,' Gap Inc. officials point to cleaner inventories, room for further cost savings and a new CEO soon to arrive.
Les mer »
See how a Wall Street bank office building was transformed into condosThese million-dollar luxury condos used to be the storied offices of a big Wall Street bank. See inside the transformation.
Les mer »
Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plansThe funds to reimburse depositors will be paid out of the Deposit Insurance Fund, which is made up of quarterly fees assessed on financial institutions.
Les mer »
Bank stocks plunge and gold rises as Wall Street deals with uncertaintyThe most pressure is on the regional banks one or two steps below in size of the massive, “too-big-to-fail” banks that helped take down the economy during the 2008 financial crisis.
Les mer »