The S&P and Nasdaq slipped roughly 2% and 1.5%, respectively. Shares of embattled Swiss lender Credit Suisse were down by more than 20% after its biggest shareholder chose not to increase its funding. That comes after the bank cited “material weakness” in its financial reporting Tuesday and got rid of executive bonuses. Shares of US banks also fell: Wells Fargo was down 4.9% and JPMorgan Chase stock dropped 3.6%.
CNN’s Fear & Greed Index was at 22 Wednesday morning, indicating extreme fear in the market. Markets also digested the latest economic data giving insight into the state of inflation. The Producer Price Index, a metric measuring prices paid for goods and services by businesses before they’re sold to customers, fell to 4.6% for the 12 months ended in February. At the same time, US retail sales fell 0.
It's only just begun. The Biden dynasty of fools will ruin our economy no doubt.
Safest place for your money is under your bed!
The behavior of a few insanely wealthy/greedy people and the politicians that enable them cause instability, fear and inequality to exist. They want less regulation and endless bailouts for themselves but nothing for the rest of 99% of humanity.
Lmao y’all are so hateable. A dashboard made specifically to reinforce fear? Have you ever highlighted this dial when it wasn’t pointing to EXTREME FEAR? This is why no one is applying to the CNN product designer roles that have been open for months. Y’all make trash.
Oops. It's Joe Biden.
Maybe we shouldn't let greedy cowards dictate the economy?
Ok
Bidenomics
The Biden Administration is trying to keep you busy so you won't really know what's going on.
Too soon
Smart people is going to make a killing with these!
'I did that with my disastrous policies. My plan is working. Xi will be happy.'
Thanks Biden voters
Excuses, excuses! No one can get as creative as the Wall Street in why they move the markets up or down! 99.9% of the banking institutions are operating just fine in US!
You know a piece of financial analysis is most likely useless if it references the drop in points and not the % drop. The drop in points is a meaningless metric since the market only increased in overall points over time due to normal inflationary pressures. Amateur hour.
Thanks Joe
Thanks Biden and voters 😊
Worst administration in last 40 yrs, hands down…
Well, that's one way to start your morning coffee with a heart attack.
The stock market is not the economy.
Biden bucks baby!!
We didn't learn anything fron the 1930's or 2009.
Whoa there cnn. Didn’t you hear Joe Biden assured all Americans that our banking system is safe. This looks like you are spreading extreme right wing lies
Well anywho When do we start talking about Raising the Debt Ceiling and Funding Goverment? We should pay them MORE for fixing the problems they caused us, We Need their Expertise 🙄 whatever do we do without them
The global markets are reacting to a US banking shortcoming & the related fears of US customers. Depositors outside the US don't bank with the same risks as with a US bank. The reason is that the US banking system, unlike in other 1st world countries, is insufficiently regulated.
Boooo
Biden: “the economy is good”
You guys really get off on making people scared, don’t you
Regional bank chaos clouds outlook for markets .
👀Bitcoin
New data early Wednesday showed a dip in retail sales .
Investors resumed their flight to government bonds , with yields falling across the board .
Dow dragged down by banking worries as indexes open lower .
That's what's happens when you steal other people money, the Saudis don't trust in west, as they saw what EU and US did to the Russians, CreditSuisse will fall.
Great! Bank greed is about to 🤬 up the global economy again. Will probably need taxpayer bailouts while they're on lavish retreats.
Welcome to Joe Biden’s America and everybody that voted for this
“Extreme fear” oh relax. Just a clickbait name
Thanks to Trump and his 2018 law, we are in this mess. Maybe we should take Mar A Lago and sell it to recoup some losses. desantis2024
Credit Suisse stock price down 25%.
The S&P and Nasdaq slipped 2% and 1.5% respectively .
Beware the Ides of March
one stupid fucking bank goes out because of stupid decisions and the rest of us need to suffer. The problem with this world is the bankers, the insurance companies, the pharma companiesthe debt collectors,and the crony capitalist establishment.
Always fear with driverless leadership!
idk not an economist but something tells me that a system that is based off wild extremes of 'FEAR' and 'GREED' wasn't ever going to be terribly stable in the long term.
CNN PLEASE CHECK OUT MY PROFILE AS FAST AS YOU CAN.......
And us Americans gonna feel the economic fall while the rich sit there drinking mimosas.
Oops, Biden broke the bank...
Maybe if SEC was doing is job, the global issue would be less significant!
Thanks joe!
Looks like the banks are making it rain...a storm of red numbers.
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