The DC Today - Tuesday, April 25, 2023
It was sell-off mode today in stocks, the -50% drop today in First Republic stock that seems to be the catalyst for the market turmoil.
The Dividend Cafe · The Bahnsen Group
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Show Notes
Today's Post - https://bahnsen.co/3LESWXT
It was sell-off mode today in stocks, with the Dow down -1% and the Nasdaq down -2%, yet it really was the -50% drop today in First Republic stock that seems to be the catalyst for the market turmoil (the drop lower in the broad market that accelerated around 10:00 am PT was just minutes after the acceleration of sell-off in First Republic). Of course, the challenging news there was known all afternoon and night yesterday and all morning today, so it was really a mid-day realization that those problems are not going to be easily resolved (selling assets and raising new equity), and then the broad market has to digest that spill-over effects that could create.
Lots more earnings news to come this week.
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com