Midday Market 03/13: Banks ablaze under withdrawal pressure

US stock market continues to undergo a volatile trading session as the optimistic sentiment on the Futures market last night was immediately extinguished at the market open this morning when Regional Banks stocks plunged right from Pre-Market with, , and continuously suspended from trading. It can be said that the temporary measures of Federal Reseves and US Treasuries are not enough to stabilize investor sentiment when most guarantees from ESF (Exchange Stablization Fund) are only directed towards large banks with collateralized assets being HQLA (High-Quality Liquid Assets) and US Treasures Bonds while regional banks like mostly hold loans and corporate bonds on balance sheet.

However, outside the finance sector, the general panic was quite well contained with money flowing to tech and blue chips stocks in general, keeping recovering back to around 386 after finding support at the 380 put wall.