are poised to close the week up 12%, while Amazon and Apple are up 8% and 4%, respectively.
But that dynamic has been completely flipped. The past week has not only seen fall of SVB, Signature Bank, and Silvergate Bank, but alsoAlso helping tech stocks this week was news that the Biden administration would . Shares of Meta were up 4% on the news Thursday, while Snap and Pinterest shares were up 4% and 7% respectively.
Tech stocks are highly sensitive to directional moves in borrowing costs, with any spike in rates often hurting high-growth names.
Wall Street once again invents a narrative to somehow explain WTH just happened. 😀
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Credit Suisse: Why it's struggling and why that's a big deal | CNN BusinessCredit Suisse, the 167-year-old bank and the second-largest lender in Switzerland, is in deep trouble. Its struggles set off anxiety in Europe and across global markets, and what happens at Credit Suisse could impact the broader financial system. Biden Well, it isnt and it isnt Waiting for Brandon to blame Trump for this bank too.
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