The Dow dropped on Monday as a plan to backstop all the depositors in failed Silicon Valley Bank, along with other extraordinary measures, failed to boost bank shares. - The Dow fell 90 points - The S&P 500 shed .15% - The Nasdaq rose .45%
The stock is down more than 2.7% in Monday's session.
Without certifying that this will happen, Saravelos noted three observations on current market conditions: If the dollar stops serving as an investment hedge to underlying risky U.S. asset positions, Saravelos said there will be added pressure on the dollar and on portfolio managers' asset allocation. Most asset managers over the last decade have constructed portfolios based on a negative correlation between risk appetite and the dollar.A popular adage in the market is that once it starts, the Federal Reserve will keep raising interest rates until something breaks.
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