The stocks of 12 components, all banks, of the S&P 500
are down more than 10%, and five stocks are down more than 20%. The biggest decliners are shares of First Republic Bank
down 74.3%; Comerica Inc.
shedding 45.7%; KeyCorp
losing 34.6%; Zions Bancorp
off 31.6%; and Fifth Third Bancorp
giving up 25.9%. Meanwhile, among some of the S&P 500’s larger capitalization banks, shares of J.P. Morgan Chase & Co.
slid 0.8%, Bank of America Corp.
sank 4.5% and Wells Fargo & Co.
dropped 6.6%. The selloff comes in the wake of recent failures of S&P 500 components SVB Financial Group’s
Silicon Valley Bank and Signature Bank
Meanwhile, the S&P 500
was down 0.4%.
AVGO Stock: Broadcom Delivers Beat-And-Raise Quarterly Report
Chipmaker and infrastructure software provider Broadcom (AVGO) late Thursday beat Wall Street's targets for its fiscal second quarter and with...
Leave a Reply