Traders work on the floor of the New York Stock Exchange in New York City on Tuesday. Stocks tumbled on Wednesday amid fears that worries about the banking system were widening to other parts of the world.Timothy A. Clary/AFP via Getty Images
Traders work on the floor of the New York Stock Exchange in New York City on Tuesday. Stocks tumbled on Wednesday amid fears that worries about the banking system were widening to other parts of the world.Stocks tumbled on Wednesday as fears grow that the banking turmoil will widen and spread globally.
The Dow Jones Industrial Average dropped more than 1.5% soon after the open, or more than 500 points. The S&P slumped more than 1.4%. The catalyst was a more than 20% drop in shares of Credit Suisse, a major Swiss lender that had already raised market concerns after facing a number of challenges in recent months.
The drop sparked sharp falls in European markets as global investors are growing worried about the stability of the banking system overall afterAlthough the U.S. stepped in to rescue the two lenders, the actions have yet to calm nerves about the financial system.
280 points is not a 'tumble.' It's a small drop compared to the huge swings during Trump's administration. Maybe news organizations should choose their words more carefully. There's absolutely no justification for making a mountain out of a molehill to grab headlines.
It would be oh so appropriate if the next Great Depression got triggered by a bank catering to tech customers who move fast and break things. Hopefully this all calms down, but humans tend to human
I always love the thumbnails of some random, super frantic white dude running around the stock exchange floor lol
Banks are addicted to cheap money. Like everyone else, they need to learn to live in a world where it takes hard work and patience to make money.
vankapro This guy is about totally shred his solo. Why you gotta ruin his shit with financial news?
Let the bank's die new banks will form and take the business
Why not yesterday or Monday?
NPR has solidified itself as an echo chamber with its discussion of ESG investing this morning. Fixation on being ESG in this chaotic geopolitical environment and amid inflationary pressures has 100% been harmful. Just ask the people that have been stuck with all ESG portfolios!
fuckin BURNNNNN
There needs to be a market for those who just want to do crazy speculation versus people who actually want to invest
Contractions were inevitable but the fundamentals are quite a bit better in the U.S. than Europe or Asia
So the bipartisan effort to gut dodd frank worked out just fine?
Oh no, global spread I didn't know that Trump was the president of Switzerland, too, npr!
Super bestest greatest economy since the dinosaurs….!!!!!
lol
Why should we who have no wealth to be managed care about the Wealth Management of the rich who control the stock market?
Interesting stock photo.
Fear controls the world. That’s why the world is broken
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