The market is seeing a fair amount of risk aversion, although at the same time bears come back also on precious metals market, especially on silver. Once again there is uncertainty over the banking sector. The latest data showed a 10% deposit outflow from PacWest Bank (PACW.US) which triggered a 25% drop early in the session. The company's trading was suspended, but after resumption we are seeing slight increases. At this point, the loss has been limited to 21%.
PacWest (PACW.US) opens with a downward gap. PacWest is quite correlated with the Russell 200 index, which is losing 1.2%. The DJIA is also losing quite a lot, with declines of just over 1%. Source: xStation5
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