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WAL Western Alliance shares pull back after it denies report of potential sale
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SPY

4/5/2023 Market Diary

1. Market sustained further losses following an unanimous decision by the FOMC to further increase the fed fund rate by +0.25%.

2. Comments made by Fed Chair Powell failed to ease concerns over ongoing banking crisis. Banking groups KRE and KBE declined further by -1.8% and -1.6%,

3. Several regional banks experienced significant losses after hours, PACW -52%, WAL -22%, , indicating that banking crisis is far from resolved.