Wall Street indices fell on Tuesday, amid investor concerns about the safety of the banking sector in the United States, ahead of the US Federal Reserve’s interest rate decision.
Yesterday, Tuesday, the “Dow Jones” index closed trading down by 1.08% at 33684.53 points, while the broader “Standard & Poor’s 500” index ended trading at 4119.58 points, down by 1.16%.
And the “Nasdaq” index recorded at the close a reading of 12080.51 points, a decrease of 1.08% as well, according to data from the “Bloomberg” agency.
US bank shares fell, and the US local bank index fell by 6.1%, in the largest decline since March 17th.
With renewed concerns about the situation of US local banks, PacWest Bancorp shares fell by 28%, while Western Alliance shares fell by 15.23%.
The strong decline in the stocks of the local banking sector came one day after JPMorgan’s takeover of the troubled First Republic Bank. The banking sector in the United States has been witnessing heavy losses since last March, after the collapse of “Silicon Valley” and “Signature” banks.
This article was originally published by RT.
