Power Breakfast: Bank Stocks Plunge Resumes As SVB Market Turmoil Continues

The Dow slipped for the 5th day in a row amid ongoing turmoil in the banking sector. The Russell 2000 index lost 1.6%, the VIX jumped 6%. Nasdaq gained 0.5% from the support of IT stocks. Bank index fell 7%, this is the biggest decline after 2020. Bank stocks lost $185 billion in 3 days. First Republic Bank broke 60% again yesterday. 27% believe the Fed will not raise rates next week. Today all eyes on the inflation data of February, it is estimated to remain at 6%.