The reporter reported that The Dow Jones continues to rise. Recently, it soared more than 400 points as investors eased concerns regarding inflation. and the collapse of Silicon Valley Bank (SVB).
As of 9:41 p.m. Thai time, the Dow Jones Industrial Average was 32,257.53 points, plus 438.39 points or 1.38%.
The CBOE Volatility Index (VIX), a gauge of investor anxiety in U.S. stock markets, fell 13.61 percent to 22.91 following hitting 29.03 yesterday, near its highest since 2022 amid concerns regarding stability. of the US banking system If the index rebounds above 30, it indicates that the stock market is at risk. and high volatility
The US released the Consumer Price Index (CPI) for February, in line with analyst expectations. and a slowdown from January It indicates that inflation has reached its peak. And will be a factor supporting the Federal Reserve (Fed) to slow down the rate hike.
In addition, investors were concerned regarding the collapse of SVB following the US introduced deposit protection measures. and established the “Bank Term Funding Program” to prevent the SVB crisis from spreading to other financial institutions.
Edward Yardini, president of research firm Yardini, said the collapse of the SVB would result in the Fed ending its rate-raising cycle earlier than expected.
As for banking stocks, they led the market today. The First Republic Bank (FRB) soared nearly 50% following plunging more than 70% yesterday, as investors worried that the SVB’s collapse would hurt system stability. bank
