US stocks fell in early trade on the 17th. First Republic Bank, which has been caught up in the banking crisis in the US region, fell more than 20% in early trading, while other bank stocks declined despite receiving $30 billion in capital injections from 11 peers.
Dow JonesIndustryindexIt fell 184.85 points, or 0.57%, in early trade on the 17th, the S&P 500 index fell 0.31%;nasdaqThe index fell 0.13%; The Philadelphia Semiconductor Index and TSMC ADR opened higher and then returned flat and fluctuated around the plate.
Although First Republic Bank’s rescue plan was finalized on the 16th, 11 banks including JPMorgan Chase and Morgan Stanley agreed to jointly deposit US$30 billion, causing the bank’s share price to jump 10% on the 16th. % jumped. That dragged the KBW Regional Bank Index down nearly 3%, down 20% to $27.16 in early trading.
However, as investors assess the impact of the banking crisis on the US Federal Reserve’s (Fed) policy meeting next week, all three major US stock indexes are still expected to close this week in the red. For the week, the Dow is up 1.1%, the S&P 2.6% and the Nasdaq 5.2%.
Jay Hatfield, CEO of Infrastructure Capital Advisors, said: “Markets are in a swing right now. The regional banking crisis will have a huge negative impact on the economy and markets. But what preceded this crisis was an overly aggressive and irrational Fed.”
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