Market Update – 10 Quick Updates 3-10-23

In this episode Scott Becker shares 10 quick updates on the market:

1. Stocks were hammered yesterday based on challenges facing banks and the banking system.
2. Silvergate Capital, a bank focused on crypto related lending, collapsed.
3. The major indexes are flat as investors assess the fallout from the bank situation and the coming jobs report.
4. Yesterday, the S&P 500 lost 1.85%.
5. The Fed and the markets are awaiting the jobs report this AM.
6. Bitcoin dropped another nearly 8% yesterday.
7. The 10 year treasury yield dropped to 3.9%.
8. New jobless claims rose a little more than expected last week.
9. It’s unclear whether new cracks in the economy will lead the Fed to raise rates 25 basis points instead of 50 basis points at their March Meeting.

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