News Formal

Wall St sinks as weak earnings fan fears of economic slowdown

  • 📰 Reuters
  • ⏱ Reading Time:
  • 16 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Wall Street's major averages suffered their deepest declines so far this month as a downbeat UPS forecast exacerbated investor concerns about a slowing U.S. economy on Tuesday while plunging deposits at regional First Republic Bank added to jitters about the bank sector's health.

flight in deposits"People are trying to figure out the health of the regional banks in general. Is there a canary in the coal mine? It's really important for mid-size businesses in the country that the regional banks stay healthy," said BMO's Schleif.

debt ceiling"Anytime you hear about a potential default that would trigger a risk-off environment. If we go to the brink and even beyond that wouldn't bode well for risk assets or consumer confidence," said Brian Price, head of investment management for Commonwealth Financial Network in Boston.

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:

 /  🏆 2. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock ETFs see faster inflows despite Wall Street bear-market warningsStock ETFs are seeing accelerated inflows even as grimmer Wall Street predictions warn of a bear market ahead
Source: BusinessInsider - 🏆 729. / 51 Read more »