Bank stocks drop as FDIC flags challenges and strengths in quarterly report

The Federal Deposit Insurance Corp.’s quarterly banking profile report provided no lift to bank stocks, which fell sharply on Wednesday.

’s first-quarter report included results in the banking sector up until March 31. The quarter ended only about three weeks into the regional banking turmoil that continued well into the second quarter after the Chairman Martin Gruenberg said banks “face significant downside risks from the effects of inflation, rising market interest rates, slower economic growth, and geopolitical uncertainty.” The

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European stocks slip as tech, bank drag; investors assess U.S. debt ceiling dealEuropean shares edged lower in light trade on Monday, on losses in technology and bank stocks, while investors assessed the tentative deal reached by U.S. lawmakers to raise the nation's debt ceiling and avert a default.
Source: Reuters - 🏆 2. / 97 Read more »