Leading US Banks Experience Shares Drop as Bitcoin Recovers.
The current situation in the American banking system is worrying, especially in the wake of the recent banking crisis involving Signature Bank, First Republic Bank and Silicon Valley Bank in the first quarter of the year.
This scenario has been a cause of concern for some analysts who warned that the abrupt shift from extremely low interest rates to higher rates in just one year could trigger problems for banks. Macroeconomist Lyn Alden, for example, has pointed out that this situation is a reflection of a possible dollar crisis and recommends paying more attention to Bitcoin as an alternative.
The possibility of a continued rise in inflation in the United States, which could justify tighter monetary policy, hangs like a shadow over the economy.
Furthermore, there appear to be no safe havens, as even big banks like JP Morgan Chase, Bank of America, Citigroup and Goldman Sachs have seen daily declines and their worst decline in a year. Profits at America's second-largest bank are forecast to decline in the next quarter.
Goldman Sachs, a firm heavily reliant on investment banking, has also seen a decline in its third-quarter revenue, particularly in its asset and wealth management division.
Goldman Sachs shares have suffered a sharp decline, recording their worst performance in a year, with falls of more than 35%. Despite this, Goldman Sachs executives expect improvements in the future.
JPMorgan has experienced a series of daily declines since October 17 and is currently on its worst streak in the last month. Citigroup, for its part, faces a similar situation and is about to experience its worst decline in five years.
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The current situation in the American banking system is worrying, especially in the wake of the recent banking crisis involving Signature Bank, First Republic Bank and Silicon Valley Bank in the first quarter of the year.
This scenario has been a cause of concern for some analysts who warned that the abrupt shift from extremely low interest rates to higher rates in just one year could trigger problems for banks. Macroeconomist Lyn Alden, for example, has pointed out that this situation is a reflection of a possible dollar crisis and recommends paying more attention to Bitcoin as an alternative.
The possibility of a continued rise in inflation in the United States, which could justify tighter monetary policy, hangs like a shadow over the economy.
Furthermore, there appear to be no safe havens, as even big banks like JP Morgan Chase, Bank of America, Citigroup and Goldman Sachs have seen daily declines and their worst decline in a year. Profits at America's second-largest bank are forecast to decline in the next quarter.
Goldman Sachs, a firm heavily reliant on investment banking, has also seen a decline in its third-quarter revenue, particularly in its asset and wealth management division.
Goldman Sachs shares have suffered a sharp decline, recording their worst performance in a year, with falls of more than 35%. Despite this, Goldman Sachs executives expect improvements in the future.
JPMorgan has experienced a series of daily declines since October 17 and is currently on its worst streak in the last month. Citigroup, for its part, faces a similar situation and is about to experience its worst decline in five years.
A tip?
My pay ID: 505358808.
#cryptonews #Criptomonedas #crypto #crypto2023 #CryptoCriss77
$BTC $ETH $BNB
