The shares of the main North American banks operate with significant increases led by PacWest Bancorp by 55%.
He financial sector in the US It is recovering this Tuesday, in one of the most important rebounds on Wall Street after the financial panic unleashed by the bankruptcy of Silicon Valley Bank (SVB).
In this context, the shares of the main North American banks operate with significant increases led by PacWest Bancorp by 55%. In turn, the advance of First Republic Bank (52%) and Western Alliance Bancorporation (33%) stands out.
The fall of regional banks came after US banking regulators took extraordinary measures to support all depositors of the bankrupt Silicon Valley Bank (SVB). The SPDR S&P Regional Banking ETF (KRE) suffered its biggest one-day loss since March 2020 yesterday, falling sharply by 12.3%. This Tuesday, it advances 10%.
The increases of other recognized banks such as Wells Fargo & Company (6%), Citigroup Corp (4%), Bank of America Corp (3%) and Morgan Stanley (3%), Goldman Sachs (3%) and JPMorgan also stand out. (2%).
It should be recalled that federal authorities closed Silicon Valley Bank last Friday and seized its deposits in the largest bank failure in the United States since the 2008 financial crisis. This collapse, according to some experts, is also the second largest bank failure in history. SVB dragged Signature Bank, a major bank for the cryptocurrency sector, with it.
The collapse of SVB has led various analysts to forecast that the The Federal Reserve (Fed) will take a drastic turn in its monetary policy, something that could be confirmed even with the US inflation data that marked a decrease compared to the previous month.
Source: Ambito
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