Bank stocks posted their second day of steep losses in early trades on Friday as investors feared a cash crunch in the sector on the heels of a liquidity challenge at SVB Financial SIVB. Dow Jones Industrial Average DJIA components JPMorgan Chase & Co. JPM and Goldman Sachs Group Inc. GS fell 1.8% and 3.9% respectively, while the DJIA dropped 0.5%. Bank of America Corp. BAC fell 4.7%, Citigroup Inc. C moved down by 2.4%, Morgan Stanley MS fell by 2.2% and Wells Fargo & Co.
Bank stocks posted their second day of steep losses in early trades on Friday as investors feared a cash crunch in the sector on the heels of a liquidity challenge at SVB Financial SIVB . Dow Jones Industrial Average DJIA components JPMorgan Chase & Co. JPM and Goldman Sachs Group Inc. GS fell 1.8% and 3.9% respectively, while the DJIA dropped 0.5%. Bank of America Corp. BAC fell 4.7%, Citigroup Inc. C moved down by 2.4%, Morgan Stanley MS fell by 2.2% and Wells Fargo & Co.
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Bank stocks plunge after implosions at Silicon Valley Bank and SilvergateBank stocks plunge after implosions at Silicon Valley Bank and Silvergate Capital send 'shock waves' through the sector
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