The Shock of SVB's Collapse in 6 Charts
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Wall Street traders looking at market charts in the months ahead won’t have any trouble pinpointing the very moment Silicon Valley Bank blew up.
Worries about banking sector stability and new Federal Reserve policy headaches have sparked dramatic moves across everything from two-year bond yields and financial stocks to haven trades like gold.
While major equity indexes are rebounding from last week’s rout, volatility is gripping assets of all stripes with multiple trading halts hitting regional banks in the Monday session.
“When the terminal rate is repriced 100 basis points in a week against a backdrop of what is still a very tight jobs condition, you will get sustained rate volatility and, by extension, elevated volatility across asset classes,” says Michael Purves, founder and CEO of Tallbacken Capital Advisors.
Here are some major market moves rocking Wall Street and beyond.
(Photo: Bloomberg)
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