Here are the most important news items that investors need to start their trading day:
1. Stress and confusion
Investors are looking for clarity after a few days of dramatic turns. Monday was a mess as markets tried to figure out the ramifications of the Signature Bank and Silicon Valley Bank shutdowns. The Dow finished down, marking its fifth straight losing day, while the Nasdaq managed to squeak out a slight win. Regional bank stocks took a huge hit as the government’s actions to limit the fallout from Silicon Valley Bank and Signature failed, at least for the moment, to reassure investors and depositors alike. First Republic, for instance, fell a whopping 62% on Monday. Yet, those stocks could be in store for a rebound Tuesday. Follow live markets updates.
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