Today in markets 📊
Today’s Major Headlines
• S&P500 revisits recent range lows following more bank sector concerns
• FOMC decision gives something for both the bulls and the bears
• Oil plunges to $64 in mini-flash crash price action overnight
Even though the FOMC once again said the banking sector is ‘sound and resilient’, another bank is under the radar as PacWest Bancorp fell close to 30% in the pre-market on rumours that the bank is speaking to investors to sell the bank.
The additional bank sector concerns overshadowed the FOMC policy decision which had something for both the bulls and the bears to chew on.
The bottom line is that the bank opened the door to a pause, but they don’t see scope for rate cuts this year.
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