Isn't this a potential reaction of what the Federal Reserve may do ...? Backing off further rate hikes? However, I am unsure whether this is just a knee jerk reaction... much more pain to be had with bid-ask spreads.
In the last 24 hours:
- Mortgage rates hit +8.09%
- Credit card interest rate hits record high
- Car loan interest rate hits highest since 2001
- Oil prices jump highest in 6 months
- China planning +$137 billion stimulus
- War continues on in Israel
But guess what?
Stocks are up today.
Incredibly resilient market!
Why this sudden meltdown in bank stocks?
A couple of interesting theories and charts are doing the rounds, so let's have a look under the hood.
A thread.
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@qatarairways Any chance you can help me rebook Flight 8120 out of IAD? I’m flying from DSM to DCA but I don’t think I can make it. Taking AA over but then Qatar after.