The collapse of two US banks will keep the Fed from raising rates
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March 13 became a black Monday for the Western financial market: regulators are reaping the benefits of rapid monetary tightening, and investors are reacting in a panic to the bankruptcy of two American banks – Signature Bank and Silicon Valley. The collapse of the last of which was the largest since the financial crisis of 2008.
Banking index S&P 500 in the first minutes of the trading session fell by 8.3%, NASDAQ Bank Index – by 12.2%. A few hours later, the decline corrected to 5.6% and 7.4%, respectively. Shares of Wells Fargo & Co lost more than 5% by the evening Moscow time, Bank of America fell by 3.35%, Goldman Sachs – by 2.18%, JPMorgan – by 1.41%.
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