new York A day after the takeover of the shattered Silicon Valley Bank (SVB), Wall Street has lost its feathers again. The Dow Jones index of standard values closed 0.1 percent lower at 32,394 points on Tuesday after an inconsistent development. The tech-heavy Nasdaq fell 0.5 percent to 11,716 points. The broad S&P 500 lost 0.2 percent to 3971 points.
Traders attributed the losses to rising US Treasury yields, which would have hurt high-tech stocks. They also referred to statements by the head of the Fed’s banking regulator, Michael Barr, before the US Senate in Washington. Barr complained about a failure of the SVB’s risk management: “Basically, the risk model was not adapted to reality,” said the Fed bank supervisor. Barr, like the head of the US deposit insurance fund, Martin Gruenberg, spoke out in favor of stricter bank regulation.
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