US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
The tremors from the loss of confidence in the banking system following the sudden collapse and seizure of Silicon Valley Bank (SIVB) by the FDIC on March 10 continue to be felt through the financial markets.GETTY
US bank failures are occurring at an unprecedented rate, worrying bank depositors and investors indicative of another financial crisis is on the horizon given the unstable state of the US economy.
Sounding the bell at the US stock market is symbolic of a stock market which is performing well; however, this is not a reflection of the US economy.
Warning signs of a stark future abound in the US banking sector.
Trading was halted in shares of two more US lenders.
Regulators had to step in after PacWest and Western Alliance shares plunged.
Although there was optimism in Wall Street after stocks in the banking sector jumped on Friday, following a good jobs report and strong Apple earnings, there are still fears and worries about the sector, compounded by the failure of four midsize banks since early March......more below
