Bridgewater dumps bank stocks amid turmoil in first quarter

Bridgewater Associates, one of the world’s largest hedge funds, sold off U.S. bank stocks in the first quarter as the industry was roiled by the collapse of three lenders, according to regulatory filings.

Global hedge funds cut their exposure to U.S. banking stocks to a near 10-year low in March and fled lending-sensitive shares amid turmoil in the industry following the collapse of Silicon Valley Bank and Signature Bank.The firm also slashed its positions in smaller banks such as Bank of Hawaii Corp, Pacwest Bancorp, PNC Financial Services Group, Citizens Financial Group and Capital One Financial Corp.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Local Company Brings Prominent Indian Playwright’s Work to St. John’sA local theatre company is debuting a new play with hopes of making it accessible for all audiences. Tamasha, ...
Source: VOCMNEWS - 🏆 74. / 51 Read more »

Stock market today: World markets mostly higher; Turkiye, Thailand slip after electionsWorld shares were mostly higher Monday after a weak start in Asia, while benchmarks fell in Turkiye and Thailand following weekend election upsets for their ruling parties.
Source: CTVCalgary - 🏆 26. / 68 Read more »

Stock market today: U.S. futures point higher amid US debt ceiling fight, busy week for retailWall Street appeared headed for gains early Monday ahead of a busy week in retail, with a backdrop of debt ceiling negotiations between U.S. President Joe Biden and Republican lawmakers.
Source: CTVNews - 🏆 1. / 99 Read more »