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Equities dropped in the U.S., Asia and Europe on Tuesday as a combination of recession, banking, and debt-ceiling risks facing the world’s largest economy came together and dented the appetite for risk-taking. The decidedly risk-off sentiment began in Asian markets outside of Japan after California’s First Republic Bank reported a disappointing 41% first-quarter drop in deposits in an announcement released late Monday, reigniting worries about the U.S. banking system. European stocks also broadly fell, followed by all three major U.S. stock indexes DJIA SPX COMP. It wasn’t just banking issues that weighed on investors,…
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