The S&P 500 index slipped on Tuesday after a three-day rally fueled by support measures for the banking sector and a deal for Silicon Valley Bank assets.
"The fact that we've got answers on Silicon Valley Bank, Signature Bank and Credit Suisse means that we have more answers than questions," said Art Hogan, chief market strategist at B Riley Wealth in Boston.
Lawmakers are expected to put U.S. bank regulators on the defensive over the unexpected failures of regional lenders Silicon Valley Bank and Signature Bank when theyTop regulatory officials for the Federal Reserve, Federal Deposit Insurance Corporation and Treasury Department will testify before congressional committees.
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