News for hackers. Stuff that matters.

A comment on Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC. Parent comment

Re:Joint Statement by the Department of the Treasury, Federa... by skwirl on Sunday March 12, 2023 @07:37PM (#35128214)
Ok but did you really not address the fact that Signature Bank literally collapsed today? You know that is a different bank, correct? Did you see the stocks and sector ETFs for regional banks last week?
[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by delfinom on Sunday March 12, 2023 @07:59PM (#35128480)
ETFs have weightings. SVB actually was a big portfolio piece for some ETFs. Especially because during COVID and the money printer boom, SVB stock went to the moon and hit $800 / share at one point.

I don't think ETFs are a good sign. One of my favorite bank ETFs, PGF is only down 6% on sentiment which isn't much.

[ Parent | on HN ]
Re:Joint Statement by the Department of the Treasury, Federa... by paganel on Sunday March 12, 2023 @08:07PM (#35128575)
One bank collapsing (because of crypto shenanigans, as I've read in another article) does not make for a contagion.
[ Parent | on HN ]