Stocks fell Wednesday as investors contemplated the future of Credit Suisse, a bank with a large international and U.S. presence. The Dow shed 0.87%. The S&P 500 lost 0.70%. The Nasdaq gained 0.05%.
Sept. 19, 2008 was the last time the fund notched three straight trading days of moves greater than 0.25% in either direction, Bespoke data shows. The ETF has not seen a four-day streak of moves above that size since at least 2002, the data shows.
The fund is on track to post another day of moves greater than 0.25% in Wednesday's session. Here's how the ETF has moved over the last five sessions:SNB: Will provide liquidity to Credit Suisse if neededCredit Suisse with liquidity if neededIn a joint statement, the SNB and Swiss Financial Market Supervisory Authority said: "FINMA confirms that Credit Suisse meets the higher capital and liquidity requirements applicable to systemically important banks.
Credit Suisse shares were under pressure Wednesday after the bank's largest investor said it wouldn't provide more financial assistance. U.S.-listed shares of Credit Suisse were last down more than 18%.Bank pressures grow as mindset within industry evolves, Peter Boockvar says Peter Boockvar of Bleakley Financial Group said pressure on the financial sector was growing broadly because the bank failures have changed the mindset of the industry.
"What this is telling us is there's the potential for just a large credit extension contraction that banks are going to embark on [to] focus more on firming up balance sheets and rather than focus on lending," Boockvar said to CNBC's"It's a balance sheet rethink that the market's have," Boockvar added, citing that many banks may have bought longer maturity bonds that have reduced in value since the Fed started raising rates.
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