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1.Market Observations, 8.Was Sticky

23 Mar 2017 (AFR) – Why the huge slide in US bank stocks is a big worry for investors

(23 March 2017, AFR, by Karen Maley)

‘Financial stocks tend to act as a bellwether for the broader share market. They perform strongly when investors are optimistic that a pick-up in economic recovery will boost consumer and investor demand for credit, and they are quick to feel the pain when investor sentiment sours. That’s why last night’s brutal sell-off in US financial stocks – the S&P 500 banks index dropped 3.9 per cent, recording its steepest slide since the turmoil after last June’s Brexit vote – has sent such a chill down investors’ spines.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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