S&P 500 bears in control following break of structure amid banking sector woes SP500 DollarIndex Equities
e market remains offered towards the close and bears have been motivated by bank stocks which remained under pressure.
First Republic Bank's shares sank more than 20%, hitting a fresh record low for the second day in a row, on a report that the US government was unwilling to engineer its rescue, after the lender reported plunging deposits earlier this week. The analysts added that ´´it will take time to observe how behaviors are changing and the impact that can have on credit provision, but the ongoing concerns over the future of First Republic are continuing to unsettle risk.´´
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