
Stock Futures Plunge as Market Craves Stability amid Banking Crisis
With the collapse of SVB, many commentators have been echoing the phrase that no firm is “too big to fail.”
With the collapse of SVB, many commentators have been echoing the phrase that no firm is “too big to fail.”
European markets remained flat on Tuesday as all eyes are on Jerome Powell’s imminent congressional statement.
Despite the current outlook, a major resilience play might be in the works for the US stock market in the mid to long term.
The S&P 500 sustained its fourth day of losses following suggestions that the Fed could keep battling inflation aggressively.
The slump in the Nasdaq Composite was fueled by some key stocks that recorded significant losses on Thursday.
Yesterday’s higher stocks close indicates that the US economy is holding up amid the Fed’s interest rate hike agenda.
Since the beginning of 2023, the Nasdaq index is up by 15.60% in one of the major recoveries after last year’s downfall.
The S&P Dow Jones is removing Adani from its index, further adding to the Indian conglomerate’s mounting woes.
Market specialists expect a Fed rate hike of 25 basis points as the battle against inflation continues.
The tech-heavy Nasdaq dipped 0.18% on Wednesday to close lower for the second day as corporate earnings roll on.