US EditionWall Street steadies after anxiety over the health of regional banks roiled markets
Regional banks reported $50 million in loan charge-offs and faced fraud allegations amid market volatility, with some banks recovering losses after sharp declines this week.
- On Friday, U.S. markets stabilized after fears about regional banks threatened a second day of volatility, as those banks gained 3% in premarket after tumbling 13.1% Thursday.
- Mounting scrutiny of loan quality followed First Brands Group's Chapter 11 filing, and Zions Bank said a $50 million charge-off will hurt third-quarter profit Friday.
- JPMorgan CEO Jamie Dimon earlier this week said `When you see one cockroach, there are probably more', while Western Alliance Bancorp gained 1.3% after dropping 10.8%.
- In European trading a sell-off pushed Germany's DAX down 1.6% and Britain's FTSE 100 down 1%, while oil eased and gold climbed to over $4,383 amid Washington and Beijing trade tensions.
- Traders grew cautious ahead of Monday's economic data, with Asian markets mixed as Taiwan's Taiex fell 1.3%, India's Sensex rose 0.4%, and South Korea's Kospi closed nearly flat at 3,748.89.
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13 Articles
Stock market today: Wall Street steadies after anxiety over the health of regional banks roiled markets
U.S. markets stabilized early Friday after concerns about the health of regional banks and other financial institutions threatened to extend into a second...
Idaho Press
Wall Street steadies after anxiety over the health of regional banks roiled markets
U.S. markets abruptly turned around after concerns about the health of regional banks and other financial institutions threatened to extend into a second day. Futures for the S&P 500 were down 0.1% before the bell Friday, while futures for the…
As Wall Street banks crush records, America’s regional banks spook investors—but there’s a key difference from when SVB went bust
The tension between Wall Street and Main Street was on display this week as the country’s top banks reported blowout earnings, while regional lenders spooked investors about risks lurking in their loan books. In a regulatory filing on Thursday, Zions Bancorporation disclosed that it believes there…
The Vix index, called the "fear index", took this Saturday to the highest level since April, with North American markets reflecting investors' presence with the health of North American regional creditors after a warning of fraud. Europe infected by the red wave
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