Tag: svb

(12 March 2023) Stocks fell hard last week as the failure of SVB Financial raised fears of contagion as many regional banks are now feeling the effects of sharply higher interest rates.  The S&P 500 plunged more than 4% on the week to 3861 while the Nasdaq-100 finished the week at 11,830.  This bearish outcome was quite unexpected as I thought we might have seen more late week upside on the complex Jupiter alignments. Nonetheless, the decline was broadly in keeping with our medium term bearish outlook with the...