NEW YORK, March 24 ― Wall Street's main indexes fell today as investors fled from risky assets on growing concerns that a contagion in the banking sector had not been fully averted despite assurances from key officials.
“Certainly global regulators and central banks are trying to ring fence any concerns that people have, but I'm not so sure people are yet quite convinced that there's full stability there,” said Brandon Pizzurro, director of public investments at Guidestone Capital Management. The S&P 500 banking index and the KBW regional banking index, hit their lowest since late 2020 in the previous session, fell 1.6 per cent and 1.2 per cent, respectively.
Federal Reserve Bank of Atlanta President Raphael Bostic and St. Louis Fed President James Bullard said getting inflation lower was the central bank's priority despite the banking sector stress.
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