SVB Financial (SIVB) had to sell assets and that is sparking fear across the financial sector. As banks go, so goes the market today.
MARKET COMMENTS FRIDAY – Yesterday the market attacked the major moving averages and it closed below them. Financial stocks lead the move lower and that is never a healthy sign for the market. Hourly wages only increased .2%. That is great news on the inflation front since it is the largest input cost for companies. However, that news is NOT likely to overpower credit concerns that have surfaced.
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