Dow Plunges 600 Points As BlackRock Chief Warns SVB Collapse Merely ‘First Domino To Drop’

U.S. stocks plunged in pre-market Wednesday trading as concerns about the health of the global banking industry continued to weigh on the market, with one high-profile Wall Street bigwig cautioning the contagion of Silicon Valley Bank’s failure could spread further than previously anticipated.

The domestic losses come amid broad declines in stocks abroad, with the Zurich-based bank Credit Suisse’s 21%Also stoking concerns about the fallout of Silicon Valley Bank, Signature Bank and Silvergate Capital’s recent closures was a bleakto drop” before a potential “cascade throughout the U.S. regional banking sector with more seizures and shutdowns coming.”

Regional bank stocks captained Wednesday’s sinking ship, with share prices of PacWest, Comerica and First Republic each falling more than 8% in premarket trading.its attention on keeping the banking industry afloat instead of bringing down consumer prices.their deepest concerns about how widespread the effects of the bank collapses would spread, even as some analysts warned to remain skeptical of the rally. Stocks had previously crashed in the prior three trading sessions, with the 10 largest U.

Source: Financial Digest (financialdigest.net)

Why can’t inflation be lower? Do you really think the middle or lower class believes this nonsense after the last 20 years? Maybe they already know who will be bailed out and who will pay for it thru inflation? Just asking questions.

how could he possibly know that?

Why inflation has anything to do with anything beyond the availability of goods and services is confusing to me.

Black Rock must be shorting. Flurry of Bear statements this morning.

4%? think you forgot to factor food and petroleum......

Scare tactics and chaos, journalist at it’s finest

Is this a crash 💥 & burn ?

Tell your buddies to stop gambling with depositor money.

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BlackRock CEO Fink warns of financial risks, persistent inflationBlackRock Inc Chief Executive Laurence Fink warned on Wednesday the U.S. regional banking sector remains at risk after the collapse of Silicon Valley Bank and that inflation will persist and rates would continue to rise. “Uh but ESG eh” He knows How big is the Blackrock book that positions itself prior to Fink sharing his opinion with the Market
Source: Reuters - 🏆 2. / 97 Read more »

Morgan Stanley, BlackRock funds among those exposed to regional bank failuresMutual funds managed by Morgan Stanley , Fidelity, and BlackRock appear to be among the most exposed to the collapse of Silicon Valley Bank and Signature Bank, Morningstar data showed, as a market selloff has erased more than $100 billion of U.S. banks' value. So the banks will have arms outstretched asking for billions of tax payers money. What didn't they learn or chose to ignore in 2008 and 2009. Regular folk are tired of propping up banks Go woke go broke
Source: Reuters - 🏆 2. / 97 Read more »

BlackRock's Larry Fink warns of 'slow rolling crisis' as Fed's inflation fight drags on for yearsBlackRock Inc. co-founder and CEO Larry Fink warned his firm's investors that the Federal Reserve's aggressive interest-rate hikes were the "first...
Source: MarketWatch - 🏆 3. / 97 Read more »

The Most Dramatic Gowns at the 2023 Oscars: Marlee Matlin, Allison Williams, & MoreWe love it when stars bring the drama with their fashion!
Source: SheKnows - 🏆 558. / 51 Read more »

Tems Takes Up All the Space She Deserves in a Dramatic Cloud Dress at the OscarsTems's dress sparked an online debate after it obstructed audience members' views.
Source: POPSUGARFashion - 🏆 28. / 68 Read more »

Dashcam captures dramatic crash on interstate near Colorado ski areaDashcam shows a pickup towing a trailer jackknife while driving on Interstate 70 near the Loveland Ski Area in Colorado.
Source: fox5ny - 🏆 587. / 51 Read more »