"In the short term there's going to be a little bit of a digestion phase because the market had been expecting the Fed to cut sooner, but in the medium term it could still be a good thing because generally a resilient labor market, strong economy is good for stock prices.” The wages were strong.
A sell-off in shares of U.S. regional
banks continued on Thursday, adding to losses from a day earlier
when a surprise loss and a 70% divided cut from New York
Community Bancorp renewed fears about.
Quotes: Regional bank selloff continues as New York Community Bancorp slumps streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.
The KBW Regional Banking Index fell 1.8%after seeing its biggest single-day decline since the collapse of Signature Bank in March last year. New York Community Bancorp was last down 8.4%. From my perspective any increase in exposure to regional banks would be speculative.
New York Community Bancorp
shares fell as much as 46% to their lowest in over two decades
on Wednesday after the lender slashed its dividend and posted a
surprise loss for the fourth quarter. .