NEW YORK (dpa-AFX) – Investor concerns about the recent turbulence in the US banking sector continued to ease on Monday. The appetite for risk among investors on New York’s Wall Street increased again, which the market attributed to several causes.
Michael Barr, the Fed’s vice chairman for banking supervision, defended regulators’ actions, saying the banking system was “solid and resilient”. According to a report by the Bloomberg news agency, the US government is also considering expanding its support for troubled banks. And the First Citizen Bank wants to take over essential parts of the badly hit Silicon Valley Bank (SVB). Their collapse is considered one of the triggers for the recent banking turmoil.
The Dow Jones Industrial (Dow Jones 30 Industrial) ended the day up 0.60 percent to 32,432.08 points. The market-wide S&P 500 rose by 0.16 percent to 3977.53 points. However, the technology-heavy NASDAQ 100, which had turned negative after the start of trading, ultimately fell by 0.74 percent to 12673.07 points. All three indices started to recover on Friday after initial losses and also posted gains over the course of the past week./ck/he
