) were the biggest decliners, but ended above their lows for the day as Deutsche bank cut some losses.
The European Central Bank President Christine Lagarde pledged support to the European banking system and German Chancellor Olaf Scholz said there was “nothing to worry about” as the bank is very profitable. The selloff in the bank sector has pushed it into"deeply oversold" territory, Janney Montgomery Scott said in a note, though flagged the risk of a broader banking crisis.
“[F]rom a macro standpoint, and based on our technical work in global money flows- what we believe may be unfolding here is not a localized regional banking crisis, but a broader central banking crisis,” it added.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock market news today: Dow sinks as Powell deflates rate-cut hopesDow sinks more than 500 points after Fed delivers soft rate hike but Powell pushes back on expectations of cuts this year
Source: BusinessInsider - 🏆 729. / 51 Read more »
Source: WSJ - 🏆 98. / 63 Read more »
Stock Market News Today: Dow sheds 300 points on renewed banking fearsUS stock futures slump as Deutsche Bank jitters reignite Europe's banking concerns Worth revisiting, from '16... Real bad effect
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news today: Resilience in US jobs market continuesUS stocks rise as fresh jobs data continues to show no sign of labor market weakness
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news today: Deutsche Bank ignites fresh banking fearsUS stocks slide as traders deal with fresh banking woes and digest outlook for rates
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market news today: Traders assess bank concerns and interest ratesUS stocks end higher in volatile session as traders assess rate outlook and bank concerns
Source: BusinessInsider - 🏆 729. / 51 Read more »