banks

Key events: USA - Initial Jobless Claims USA - 30-Year Bond Auction The S&P 500 reversed its early gains to close lower on Wednesday, as a decline in Super Micro Computer impacted chip stocks and weighed on the broader market. The Dow Jones Industrial Average fell by 234 points, or 0.60%, the S&P 500 dropped 0.7%, and the NASDAQ Composite declined by 1%.

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The main topic of the world media кrecently was the collapse of Silicon Valley Bank (SVB) in California. In 2020-2021, this bank was actively attracting deposits and investing depositors' funds in bonds, but as the Federal Reserve (Fed) tightened its monetary policy, the yield on them began to fall far behind securities of new issues, and prices began to fall. U.S. regulators are still trying to understand the scale of the problem, but it is already known that several regional U.S. banks are at risk.

Key events:         UK – CPI (YoY) (Feb) Eurozone – ECB President Lagarde Speaks      USA – Crude Oil Inventories USA – FOMC Economic Projections      USA – Fed Interest Rate Decision USA – FOMC Press Conference The Federal Reserve began its two-day monetary policy meeting yesterday while the market is still under stress after three weeks of severe financial instability on both sides of the Atlantic.