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Stock Market News Today: Dow sheds 300 points on renewed banking fears

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US stock futures slump as Deutsche Bank jitters reignite Europe's banking concerns

The losses follow a volatile trading session on Thursday as investors digested the Fed's latest interest-rate hike and fresh concerns over the banking turmoil that started two weeks ago with the collapses of Silicon Valley Bank and Signature Bank, before spreading to Europe with the rescue deal for Credit Suisse.

The US central bank hiked interest rates by 25 basis points on Wednesday, representing its 9th consecutive interest rate hike since it started the tightening policy in March 2022, and Chairman Jerome Powell signaled that further increases could be necessary. The drop in US equity futures also comes amid renewed jitters over the financial health of European lenders, with

 

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