NEW YORK, March 29 ― US stocks ended slightly lower yesterday as investors weighed comments from a top US regulator on struggling banks and sold shares of technology-related...
NEW YORK, March 29 ― US stocks ended slightly lower yesterday as investors weighed comments from a top US regulator on struggling banks and sold shares of technology-related names after their recent strong run.
“It's a little bit of a follow-through from yesterday's pullback in tech stocks. You're seeing a little bit of profit-taking,” said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles. “Some of the enthusiasm is waning a little bit.” “The prospect of stricter regulations for banks with deposits above US$100 billion is raising the anxiety level for those that are perceived currently to be struggling,” James said.
With the quarter end approaching, investors are looking forward to upcoming bank results, which may give them more details about the health of the sector following the collapse of Silicon Valley and Signature Bank.
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