In a wild day for US markets, bonds and stocks rally but banks crater

(Image: Getty)

Tue, 14 Mar 2023

By Jessica Menton and Matt TurnerUS authorities have raced over the past few days to put together a package of emergency measures that would snuff out fears about the health of the banking system. Today, it had limited success, at best. US bonds rallied sharply and stock indexes recovered from their lows, but in the one sector that matters most right now – regional banks – losses piled up at a frantic clip. Shares of First Republic Bank sank 62%, Western Alliance Bancorp 47% and PacWest Bancorp 21%, tripping multiple trad...

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