Bank Stocks Recover After Biggest Day of Losses Since 2020

Dow Jones2023-03-14

By Brian Swint

Banks recovered Tuesday after suffering the biggest losses in three years on concerns that the collapse of Silicon Valley Bank could create contagion.

Regional banks such as $First Republic Bank(FRC-N)$ (ticker: FRC) and Western Alliance Bancorp $(WAL)$, which dropped 62% and 47% yesterday, respectively, bounced back 44% and 36%. Shares of Comerica Incorporated $(CMA)$, which fell 28% yesterday, are up 8% today. Big U.S. banks including JPMorgan $(JPM)$, Citigroup (C), and Wells Fargo $(WFC)$ advanced between 1% and 6%.

SVB and Signature Bank were closed down by regulators as depositors rushed to pull out their funds. President Joe Biden tried to reassure the public that the banking system is safe, but that didn't stop financial shares from sliding.

The SPDR S&P Regional Banking exchange-traded fund dropped 12.3% on Monday, its largest percentage decrease since March 2020. In Tuesday trading, it was up 7.3%.

Write to Brian Swint at brian.swint@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

March 14, 2023 10:16 ET (14:16 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Deonc
2023-03-14
Deonc
ok
AcidIce
2023-03-14
AcidIce
Time to drop further.
Docalex
2023-03-14
Docalex
What next President Biden???
Docalex
2023-03-14
Docalex
Shows the US banking system is close 2 total collapse, as many have predicted!$$$. Great reporting....🙏🏼
Acip Sudirja
2023-03-14
Acip Sudirja
Ok bosss

Leave a comment

5

60

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2319768530?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-03-14 16:33","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2319768530","market":"us","top_or_hot":-1,"title":"Bank Stocks Recover After Biggest Day of Losses Since 2020","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n  By Brian Swint \n</p>\n<p>\n  Banks recovered Tuesday after suffering the biggest losses in three years on concerns that the collapse of Silicon Valley Bank could create contagion. \n</p>\n<p>\n     Regional banks such as $First Republic Bank(FRC-N)$ (ticker: FRC) and Western Alliance Bancorp <a href=\"https://laohu8.com/S/WAL\">$(WAL)$</a>, which dropped 62% and 47% yesterday, respectively, bounced back 44% and 36%. Shares of Comerica Incorporated <a href=\"https://laohu8.com/S/CMA\">$(CMA)$</a>, which fell 28% yesterday, are up 8% today. Big U.S. banks including JPMorgan <a href=\"https://laohu8.com/S/JPM\">$(JPM)$</a>, Citigroup (C), and Wells Fargo <a href=\"https://laohu8.com/S/WFC\">$(WFC)$</a> advanced between 1% and 6%. \n</p>\n<p>\n     SVB and <a href=\"https://laohu8.com/S/SBNYP\">Signature Bank</a> were closed down by regulators as depositors rushed to pull out their funds. President Joe Biden tried to reassure the public that the banking system is safe, but that didn't stop financial shares from sliding. \n</p>\n<p>\n     The SPDR S&amp;P Regional Banking exchange-traded fund dropped 12.3% on Monday, its largest percentage decrease since March 2020. In Tuesday trading, it was up 7.3%. \n</p>\n<p>\n     Write to Brian Swint at brian.swint@barrons.com \n</p>\n<p>\n     This content was created by Barron's, which is operated by Dow Jones &amp; Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  March 14, 2023 10:16 ET (14:16 GMT)\n</p>\n<p>\n  Copyright (c) 2023 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bank Stocks Recover After Biggest Day of Losses Since 2020</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBank Stocks Recover After Biggest Day of Losses Since 2020\n</h2>\n\n<h4 class=\"meta\">\n\n2023-03-14 16:33 北京时间&nbsp;&nbsp;&nbsp;<strong>Dow Jones</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Brian Swint \n\n\n  Banks recovered Tuesday after suffering the biggest losses in three years on concerns that the collapse of Silicon Valley Bank could create contagion. \n\n\n     Regional banks such ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1244550494.USD","symbol_name":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","start_time":0,"source_url":"","article_id":"2319768530","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2319768530","pubTimestamp":1678782780,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"By Brian Swint \n\n\n  Banks recovered Tuesday after suffering the biggest losses in three years on con","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1244550494.USD":"FRANKLIN GLOBAL MULTI-ASSET INCOME \"A\" (USDHEDGED) ACC","LU1668664300.SGD":"Blackrock World Financials A2 SGD-H","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","LU0256863811.USD":"ALLIANZ US EQUITY \"A\" INC","SCHW":"嘉信理财","LU0211328371.USD":"TEMPLETON GLOBAL EQUITY INCOME \"A\" (MDIS) (USD)   INC","LU1496350171.SGD":"FRANKLIN DIVERSIFIED BALANCED \"A\" (SGDHDG) ACC","LU0742534661.SGD":"Fidelity America A-SGD (hedged)","BK4585":"ETF&股票定投概念","LU1496350502.SGD":"FRANKLIN DIVERSIFIED DYNAMIC \"A\" (SGDHDG) ACC","IE00B7SZLL34.SGD":"Legg Mason ClearBridge - Value A Acc SGD-H","LU0170899867.USD":"EASTSPRING INVESTMENTS WORLD VALUE EQUITY  \"A\" (USD) ACC","BK4566":"资本集团","C":"花旗","LU0417517546.SGD":"Allianz US Equity Cl AT Acc SGD","BK4501":"段永平概念","BK4559":"巴菲特持仓","LU0266013472.USD":"AXA WF - Framlington Longevity Economy A Cap USD","LU1162221912.USD":"FRANKLIN INCOME \"A\" (USD) ACC","BK4588":"碎股","IE00B19Z3B42.SGD":"Legg Mason ClearBridge - Value A Acc SGD","BK4550":"红杉资本持仓","LU1267930227.SGD":"TEMPLETON GLOBAL BALANCED \"AS\" (SGD) ACC A","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1261432733.SGD":"Fidelity World A-ACC-SGD","SG9999002232.USD":"Allianz Global High Payout USD","WFC":"富国银行","LU0128525689.USD":"TEMPLETON GLOBAL BALANCED \"A\"(USD) ACC","LU0310799852.SGD":"FTIF - Templeton Global Equity Income A MDIS SGD","WAL":"阿莱恩斯西部银行","BK4589":"SVB概念","BK4207":"综合性银行","SG9999002224.SGD":"Allianz Global High Payout SGD","LU0251142724.SGD":"Fidelity America A-SGD","LU0310800965.SGD":"FTIF - Templeton Global Balanced A Acc SGD","LU0320765489.SGD":"FTIF - Franklin Mutual US Value A Acc SGD","BK4581":"高盛持仓","LU0106831901.USD":"贝莱德世界金融基金A2","LU0175139822.USD":"AB FCP I Global Equity Blend A USD","LU0496365809.HKD":"TEMPLETON GLOBAL INCOME \"A\" (HKD) INC (Q)","SBNY":"签字银行","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","LU2236285917.USD":"ALLIANZ GLOBAL INCOME \"AMG\" (USD) INC","LU0211326755.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0289960550.SGD":"AB FCP I - GLOBAL EQUITY BLEND PORTFOLIO 'A' (SGD) ACC","IE0002270589.USD":"LEGG MASON CLEARBRIDGE VALUE \"A\" (USD) INC","LU1244550221.USD":"FRANKLIN GLOBAL MULTI-ASSET  INCOME \"A\" (USDHEDGED) INC (M)","JPM":"摩根大通","LU0976567544.SGD":"FTIF - Templeton Global Income A Mdis SGD-H1","PACW":"西太平洋合众银行","LU1267930490.SGD":"TEMPLETON GLOBAL EQUITY INCOME \"AS\" (SGD) INC A","LU0211326839.USD":"TEMPLETON GLOBAL INCOME \"A\" (USD) INC"},"translate_title":"银行股在2020年以来最大跌幅后回升","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"C":1,"WFC":0.9,"JPM":0.9,"FRC":0.9,"PACW":0.9,"SBNY":0.9,"SCHW":0.9,"SIVB":0.9,"WAL":0.9},"content_text":"By Brian Swint \n\n\n  Banks recovered Tuesday after suffering the biggest losses in three years on concerns that the collapse of Silicon Valley Bank could create contagion. \n\n\n     Regional banks such as $First Republic Bank(FRC-N)$ (ticker: FRC) and Western Alliance Bancorp $(WAL)$, which dropped 62% and 47% yesterday, respectively, bounced back 44% and 36%. Shares of Comerica Incorporated $(CMA)$, which fell 28% yesterday, are up 8% today. Big U.S. banks including JPMorgan $(JPM)$, Citigroup (C), and Wells Fargo $(WFC)$ advanced between 1% and 6%. \n\n\n     SVB and Signature Bank were closed down by regulators as depositors rushed to pull out their funds. President Joe Biden tried to reassure the public that the banking system is safe, but that didn't stop financial shares from sliding. \n\n\n     The SPDR S&P Regional Banking exchange-traded fund dropped 12.3% on Monday, its largest percentage decrease since March 2020. In Tuesday trading, it was up 7.3%. \n\n\n     Write to Brian Swint at brian.swint@barrons.com \n\n\n     This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal. \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  March 14, 2023 10:16 ET (14:16 GMT)\n\n\n  Copyright (c) 2023 Dow Jones & Company, Inc.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9949575116,"gmtCreate":1678792835035,"gmtModify":1678792838717,"author":{"id":"3569316529855154","authorId":"3569316529855154","name":"Deonc","avatar":"https://static.tigerbbs.com/d9aa45dd2eb58357f6477dcfb99d1415","vip":1,"crmLevel":3,"crmLevelSwitch":1,"authorIdStr":"3569316529855154","idStr":"3569316529855154"},"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949575116","repostId":2319768530,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9949546650,"gmtCreate":1678785549071,"gmtModify":1678785552959,"author":{"id":"3569382039983887","authorId":"3569382039983887","name":"AcidIce","avatar":"https://static.tigerbbs.com/25a5edd325094826cf6e8822874786ab","vip":1,"crmLevel":5,"crmLevelSwitch":1,"authorIdStr":"3569382039983887","idStr":"3569382039983887"},"htmlText":"Time to drop further.","listText":"Time to drop further.","text":"Time to drop further.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949546650","repostId":2319768530,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9949548740,"gmtCreate":1678785204281,"gmtModify":1678786233785,"author":{"id":"4141804104072892","authorId":"4141804104072892","name":"Docalex","avatar":"https://community-static.tradeup.com/news/a2aea9776d3ee030d760c85b67031767","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4141804104072892","idStr":"4141804104072892"},"htmlText":"What next President Biden???","listText":"What next President Biden???","text":"What next President Biden???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949548740","repostId":2319768530,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9949548217,"gmtCreate":1678785022739,"gmtModify":1678786230419,"author":{"id":"4141804104072892","authorId":"4141804104072892","name":"Docalex","avatar":"https://community-static.tradeup.com/news/a2aea9776d3ee030d760c85b67031767","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4141804104072892","idStr":"4141804104072892"},"htmlText":"Shows the US banking system is close 2 total collapse, as many have predicted!$$$. Great reporting....🙏🏼","listText":"Shows the US banking system is close 2 total collapse, as many have predicted!$$$. Great reporting....🙏🏼","text":"Shows the US banking system is close 2 total collapse, as many have predicted!$$$. Great reporting....🙏🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949548217","repostId":2319768530,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9949548915,"gmtCreate":1678784540237,"gmtModify":1678784545352,"author":{"id":"4141808863080382","authorId":"4141808863080382","name":"Acip Sudirja","avatar":"https://community-static.tradeup.com/news/a906edd07a989804ce9d688a5514a5f7","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"4141808863080382","idStr":"4141808863080382"},"htmlText":"Ok bosss","listText":"Ok bosss","text":"Ok bosss","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949548915","repostId":2319768530,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":60,"commentSize":5,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2319768530"}