BanksThe bank troubles are specific and not an industry wide problem. But looking at the declining big bank stocks, it seems like everybody feels the shock wave.
SVB had to to do with interest rates and long-term bond holdings which lost value combined with a slowdown in the high tech loan business.
Credit Suisse has been beset by a litany of scandals over the past few years. Earlier this week, the bank disclosed it had found “material weaknesses” in its financial reporting processes that could have resulted in “misstatements” of financial results.
The Swiss Central Bank is loaning Credit Suisse $54 billion today to calm the nerves.
RBC at start of COVID dropped from $110 to $80. (The bank was never above $110 to that point). Then went to $150
Or going back to 2008 where things were more serious. Dropped from $60 to $25. It took 5 years but got past $60.
Events come and go. Let's get on with building businesss, etc. I look at the news on the internet. It seems when people/countries are bored, a lot of idle talk begins. Frivilous talk instead of getting on with serious nation building business.