Wednesday, March 15, 2023 6:47:33 AM
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The funny or not thanggggg is it’s not effecting the still downward trend of these banks pps ,, I should know cuzzzzz BAC PPS ISSSSS KICKING MY ARSH LOL and MY COOP SHS IS DOING BETTER as of
GoGooooooCOOP
Life issssss Good,Erin Go Bragh-Ts
Edit
Hold on people it looks as of this post it’s going to get really ruff trading session
Dow futures fall 500 points as Credit Suisse shares drop more than 20%: Live updates
Stock futures fell on Wednesday as pressure on the financial sector increased with shares of Credit Suisse, a Swiss Bank with large U.S. operations, tumbling more than 20%.
Futures tied to the Dow Jones Industrial Average fell 534 points, or 1.6%, while S&P 500 futures and Nasdaq-100 futures lost 1.8% and 1.6%, respectively.
In recent days, a crisis in the financial sector has centered around regional banks as Silicon Valley Bank and Signature Bank collapsed, both casualties of poor management in the face of eight interest rate hikes by the Federal Reserve in the last 12 months. Wednesday morning attention turned to the big banks with shares of Credit Suisse hitting an all-time low.
Saudi National Bank, Credit Suisse's largest investor, said Wednesday it could not provide any more funding, according to a Reuters report. This comes after the Swiss lender said Tuesday it had found "certain material weaknesses in our internal control over financial reporting" for the years 2021 and 2022.
As Credit Suisse dragged down the European Bank sector, U.S. big bank shares declined in sympathy. Citigroup and Wells Fargo shed 3%, while Goldman Sachs and Bank of America fell 2%. The Financial Select Sector SPDR Fund lost 2.9% in premarket trading, giving up its 2% pop on Tuesday.
Regional Banks, whose rebounded helped lift sentiment for the broader market on Tuesday, fell back into the red again. The SPDR S&P Regional Banking ETF (KRE) was down 3% in the premarket, led by losses in Old National Bancorp, Zions Bancorp and Fifth Third Bancorp. To be sure, shares of First Republic Bank were clinging to gains.
GLTA
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