deeper trouble, and two credit firms downgraded first republic bank to jump status. though they gave back some ground by the close the dow industrials and s&p 500 still ended the day down significantly. shares of regional banks including first republic were down sharply, in first republic s case by more than 21%. big banks which are more tightly regulated also took a hit with citi group shares down 5%. we ll have more in a moment on what this means to markets and the economy. chris tone romans and phil mattingly with me for that. first we re joined by senator bernie sanders. senator sanders, how much confidence do you have in the banking system right now? and should people watching be worried about their bank and their savings? well, i think we re all concerned about what happened at silicon valley and we re looking at other banks around the country. and i think our hope and our prayer is that there s not going to be contagion. and i think it s imperative that the congress
leaves more questions than answers. did the government step in at just the right time or over step with what critics say is another bank bailout? it s not free. it comes with costs. plus, are more banks in danger of collapse? there s just panic. concerns spread to bigger institutions. can you squeeze under the pressure? as bank stocks take a rollercoaster ride. and regulators faced with a dilemma. were they asking the right questions? were they keeping an eye out for this? fight high inflation with rising interest rates. or back off to calm down the troubled banking industry. you can now be rescuing banks and hiking interest rates. bank bust. what s next for america s money? on cnn primetime. good evening, everyone. i m poppy harlow. just one week ago, america s 16th largest bank was up and running, everything seemed fine. tonight, it is collapsed and in government hands. and fears over the broader banking industry are now global. the swiss banking giant a
time now to take you 15,000 light years away. that s where the webb space telescope has captured a rare sight that s gotten the attention of astronomers and space fans everywhere. wr-124 among the biggest and radiant stars known is about to die. before going supernova. supernovas, as you may know, are the hottest, brightest objects in the night sky. the stars surrounded by a halo of gas and dust equivalent to the mass of 10 of our suns. the mass comes from the star itself, which is now a mere shadow of its former self and now only weighs the same as about 30 suns. my mind is blown. the news continues when i hand it over to poppy harlow. poppy? tonight, a banking crisis