SNAPSHOT Wall St opens lower on bank contagion fears
on Friday after a failed capital raise triggered concerns about risks to other banks from the Federal Reserve's sharpest rate hike cycle since the early 1980s.
Regulators over the weekend stepped in to restore investor confidence in the banking system, saying Silicon Valley Bank depositors"When a step this big, this quickly, your first thought is crisis averted. But your second thought is, how big was that crisis, how big were the risks that this step had to be taken?" said Rick Meckler, partner at Cherry Lane Investments.
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