Financial stocks led by Citigroup enter correction, down 10% from highs, on yield curve concern

  • 📰 CNBC
  • ⏱ Reading Time:
  • 11 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 8%
  • Publisher: 72%

Business News News

Business Business Latest News,Business Business Headlines

The yield on the 2-year Treasury note topped the 10-year rate, a so-called yield curve inversion that has been a precursor to past recessions.

, though not yet in a bear market, were all in correction territory, down more than 10% from their 52-week highs.fell into bear market level, down more than 20% from their recent highs. They are more susceptible to a squeeze in lending margins because they don't have big capital markets businesses to offset it.

Goldman Sachs, J.P. Morgan Chase, Citigroup, Bank of America, Morgan Stanley and Wells Fargo are all down at least 8% in August, with consumer-lending oriented firms suffering the worst losses.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in BUSÄ°NESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

... and so it begins

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.

Jim Cramer is not worried about the yield curve, says Warren Buffett is buying bank stocksCNBC's Jim Cramer says the strength of the consumer sector and Warren Buffett's confidence in back stocks are key reasons not to overreact to the yield curve inversion. Jim is an idiot. Pay no attention. The yield curve is nothing and this scare campaigns happened last year for fews days but the this time the funds who caught short yesterday when Trump delayed 10% tariffs decision they found another reason to push the market down and they close the short with profit. jimcramer I'm a lot more concerned about 10yr real yields at 0.0% than the 2s/10s curve doing what the 2s/5s curve has been doing for the last 9 months. yieldcurve
Source: CNBC - 🏆 12. / 72 Read more »