NEW YORK — Stocks are back to falling on Wall Street Wednesday as worries worsen about the strength of banks on both sides of the Atlantic.
Wall Street's harsh spotlight has intensified across the banking industry recently on worries about what may crack next following the second- and third-largest bank failures in U.S. history last week. Stocks of U.S. banks tumbled again Wednesday after enjoying a brief, one-day respite on Tuesday. The U.S. government announced a plan late Sunday to protect depositors at Silicon Valley Bank and Signature Bank, which regulators shut on Sunday, in hopes of shoring up confidence in the banking industry. But markets have since swung from fear to calm and back again.
On the other hand, inflation is still high. While taking it easier on interest rates could give more breathing space to banks and the economy, the fear is such a move by the Fed could also give inflation more oxygen. That caused the yield on the two-year Treasury to plummet. It tends to track expectations for the Fed, and it dropped to 3.87% from 4.25% late Tuesday. That's a massive move for the bond market. The two-year yield was above 5% just a week ago, at its highest level since 2007.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Democrats have wrecked the economy and started WWIII.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks leap higher on Wall Street, led by beaten down banks: Watch LiveStocks are leaping on Wall Street Tuesday, as some of the most breathtaking moves from a manic Monday reverse course. You can only flood the market with cheap printed devalued dollars so many times. There can only be so many bailouts. At some point, kicking the can down the road will result in a boomerang effect. Try urinating against the wind, see how that works out for you.
Source: abc7newsbayarea - 🏆 529. / 51 Read more »
Stocks leap higher on Wall Street, led by beaten down banks: Watch LiveStocks are leaping on Wall Street Tuesday, as some of the most breathtaking moves from a manic Monday reverse course.
Source: ABC7NY - 🏆 592. / 51 Read more »
Stocks leap higher on Wall Street, led by beaten down banks: Watch LiveThe Dow Jones Industrial Average was up 436 points, or 1.4%, at 32,255, as of 10:40 a.m. Eastern time, while the Nasdaq composite was 2.2% higher.
Source: ABC7Chicago - 🏆 284. / 63 Read more »
Stocks leap higher on Wall Street, led by beaten down banks: Watch LiveStocks are leaping on Wall Street Tuesday, as some of the most breathtaking moves from a manic Monday reverse course.
Source: 6abc - 🏆 250. / 63 Read more »
Stocks fall on Wall Street on renewed fears about banksU.S. futures tumbled Wednesday and bank stocks around the world slumped as anxiety over the health of the global banking system surfaced again after a broad rebound the previous day. And GAS PRICES GOING TO SKYROCKET!
Source: wjxt4 - 🏆 246. / 63 Read more »
Bank stocks drop and S&P 500 swings as Wall Street shakesNEW YORK (AP) — Wall Street is worried about what may be next to topple following the second- and third-largest bank failures in U.S. history, and stocks are swinging sharply Monday as investors scramble to find someplace safe to park their money. Poor rich people. I here Switzerland is nice this time of year. You can even evade taxes there. 😭😭✋🏿💀💀✋🏿✋🏿Goddess has been working on ending the 1% since 2021😭😭✋🏿✋🏿💀
Source: AP - 🏆 728. / 51 Read more »