To The Moon

🇺🇸 The U.S. futures markets initially opened Monday with the major averages up because the U.S. authorities have launched emergency measures on Sunday to shore up confidence in the banking system after the failure of Silicon Valley Bank threatened to trigger a broader financial crisis.

On Sunday, the U.S. regulators also closed down New York's Signature Bank, which had come under pressure in recent days. 

Regulators said the failed bank's customers will have access to all their deposits starting Monday. However, the closedowns of the two banks have contributed to higher levels of background volatility, with investors wary for more meltdowns at the banking sector. 

The global markets have been negatively affected by the concerns about the U.S. banking crisis. Asian and European equities dive on fears of the U.S. financial sector crisis. 

It is now clear that all depositors (of the failedbanks), including those whose funds exceed the maximum government-insured level, will be made whole. However, while all customer deposits are protected, Sunday's new policies will not protect equity and bond holders in SVB and Signature Bank. 

The combined effect from the meltdowns of three big U.S. financial institutions have clearly affected  the stock market. The futures market turned negative before the stock market's opening hour. Then the US stock market opened with all the three major indicators in red. $DJIA(.DJI)$ opened at 31,819.83 points, below the 31,909.44 points when the market closed at the end of last week. DJIA has now hit the low of 31,624.87 points. 

The President of the United States has just met the press and has given his reassurance that the US banking system is safe. The Treasury Department, Federal Reserve and FDIC (the Federsl Deposit Insurance Corporation) have issued a joint statement saying they were "taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system." Authorities are doing their best to contain the contagion from the SVB fallout. 

Bank stocks have tumbled on fears of contagion following SVB collapse, while expectations rose for apause in interest rate hikes in March. 

The Federsl Reserve Board said it is carefully monitoring developments in the financial markets. The capital and liquidity positions of the U.S. banking system are strong and the U.S. financial system is resilient.

The DJIA is now 31,900 to 32,000 points.

How would you trade in this present market condition?

I would like to invite you to share your thoughts in the comments section below. 

Please also tap "Like" for this post. Thank you. 

You are welcome to tap to "Repost / Share" this article. 

The above article is for information. Do DYODD before making any trade. 

Good luck. 🍀 

@TigerStars @MillionaireTiger @Tiger_chat @TigerClub @VideoLounge