around financial stocks even after Credit Suisse had secured a credit line of up to $54 billion from the Swiss central bank to shore up liquidity and investor confidence.
"Today marked a key reversal for the TSX," said Brandon Michael, senior investment analyst at ABC Funds. "The problem is it's heavy in financials and energy stocks, which tend to do well in a higher interest rate environment ... and as a result of the regional banking crisis, investors are recalibrating their interest rate expectations."rose 0.5% after starting the day losing 1.9% as oil prices fell more than 1%.
Seems like stocks everywhere recovered after that was announced lol
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