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Regional bank stocks plunge as Credit Suisse, Moody’s downgrade rattle US market

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Regional bank stocks plunged as part of a major premarket selloff on Wednesday morning.

Larger US banks were also caught up in the market chaos.Wells Fargo declined more than 5%, while Citigroup shares were down nearly 5%. Bank of America sank more than 4%. Goldman Sachs fell nearly 4%.The stock plunge extended to the broader market.

Dow Jones Industrial Average futures were down about 600 points on economic worries. The tech-heavy Nasdaq futures were down more than 200 points and broad-based S&P 500 futures were down more than 80 points. The entire banking sector has been under pressure since federal regulators were forced to shut down SVB and another failed institution, Signature Bank of New York.The feds have reportedly investigating the inner workings at SVB prior to its failure — including

On Tuesday, Reuters reported that the Federal Reserve is mulling stricter rules and oversight for midsized banks in the wake of SVB’s collapse.

 

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NSO365 👆👆👆

Soon the comedian ZelenskyWarCriminal will ask for more money, and Brandon will provide him with another $100 billion.

Way to go BIDEN - asleep at the wheel

Reckless spending, on COVID vaccines, and hopelessly self destructive Ukraine war effort, by the govts coming to haunt European, US banking sector? Which other sectors are going to go down?

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