🏦Crisis Escalates‼️⏰ To Sell Regional🏦🏦 Before They Become FRC🔥🔥🔥
@LMSunshine:
🇺🇸 regional banks extended losses from 1/5 (Mon) after the seizure & auction of First Republic Bank (FRC). There's more and more talk about problems with commercial real estate, an area associated with regional banks. 🚨 Bearish hedge-fund traders were present in a bout of selling that later prompted long-only investors to sell too, according to a note from John Flood, a partner at Goldman Sachs Group Inc. 🚨 “Wall Street is quickly hitting the sell button as banking turmoil appears it is not going away anytime soon,” said Ed Moya, senior market analyst at Oanda. “Risk appetite did not stand a chance as traders focused on lingering doubts over the regional banks, rising recession odds, and growing risks that the US could default on its debt next month.” On 3/5 (Wed) PacWest (PACW) reassu