Nasdaq Bank Index: Putting A Bad Hair Day Into Perspective
Elon Musk still sees danger ahead for the US economy if the Fed does not contain the regional banking crisis.
Financial blog Zero Hedge previously tweeted about the critical role of small and medium-sized banks in the US financial system — a hot topic following the sharp collapse this month of Silicon Valley Bank, a technology startup lender and the first bank to be taken over by regulators since the 2008 financial crisis.
Small and medium banks account for 50% of commercial and industrial lending and 60% of residential real estate lending, among other loans, notes Zero Hedge with accompanying charts.
“If the Fed does not contain the collapse of regional banks, there will be another Great Depression,” it wrote, referring to the economic crisis that lasted from 1929 to 1939.
"This is a serious risk," Musk replied to Zero Hedge.
According to the US Department of Labor, in 1933, at the height of the Great Depression, approximately 25% of the 12.8 million people in the US labor force were unemployed.
This wasn't the first time Musk had intervened on his social media about the collapse of the SVB. Last week, he compared the bank failure to the Wall Street crash of the 1920s that preceded the Great Depression.
"There are a lot of similarities this year with 1929," Tesla CEO said in response to a post from Ark Invest' Cathy Wood.
Nasdaq Bank Index
BANK
includes securities of companies listed on the NASDAQ that are classified under the industry classification benchmark as banks.
These include banks that provide a wide range of financial services, including retail banking, loans and money transfers.
On February 5, 1971, the underlying NASDAQ Bank Index was 100 points.
Financial blog Zero Hedge previously tweeted about the critical role of small and medium-sized banks in the US financial system — a hot topic following the sharp collapse this month of Silicon Valley Bank, a technology startup lender and the first bank to be taken over by regulators since the 2008 financial crisis.
Small and medium banks account for 50% of commercial and industrial lending and 60% of residential real estate lending, among other loans, notes Zero Hedge with accompanying charts.
“If the Fed does not contain the collapse of regional banks, there will be another Great Depression,” it wrote, referring to the economic crisis that lasted from 1929 to 1939.
"This is a serious risk," Musk replied to Zero Hedge.
According to the US Department of Labor, in 1933, at the height of the Great Depression, approximately 25% of the 12.8 million people in the US labor force were unemployed.
This wasn't the first time Musk had intervened on his social media about the collapse of the SVB. Last week, he compared the bank failure to the Wall Street crash of the 1920s that preceded the Great Depression.
"There are a lot of similarities this year with 1929," Tesla CEO said in response to a post from Ark Invest' Cathy Wood.
Nasdaq Bank Index
BANK
includes securities of companies listed on the NASDAQ that are classified under the industry classification benchmark as banks. These include banks that provide a wide range of financial services, including retail banking, loans and money transfers.
On February 5, 1971, the underlying NASDAQ Bank Index was 100 points.
Trade active:
Sept 21, 2023
Nasdaq Bank Index is heading down, back to 3000 level.
Nasdaq Bank Index is heading down, back to 3000 level.
Trade active:
Sept 26, 2023
Nasdaq Bank Index towards down, break down 3000 pp level.
Nasdaq Bank Index towards down, break down 3000 pp level.
Bank Show Begin
Or Not Begin..
THIS IS THE QUESTION 😏