Financial institutions took about $300 billion in short-term loans this week from the Federal Reserve as the industry copes with a serious crisis.
CNBC’s Jim Cramer on Wednesday said the Federal Reserve may need to take drastic measures, which could be “fantastic” for your portfolio.
West Texas Intermediate futures fell more than 6% to $66.85 per barrel. That would be WTI’s biggest one-day drop since July 12, 2022.
Wells Fargo, Citigroup and key regional bank stocks were among the names under pressure on Wednesday.
It would be Schwab’s worst one-day sell-off ever if the decline is worse than the 19% it suffered in April 2000.
The tech-focused bank was closed by regulators on Friday after attempts to raise more capital failed.
One academic said the nations had been quick to blame the other for their “self-inflicted problems.”
Snap-owned Snapchat, and its role in the fentanyl crisis, was the focus of a House roundtable hosted by the Energy and Commerce Committee on Wednesday.
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