Regional bank stocks continue to see declines amid SVB crash
Yahoo Finance Live’s Julie Hyman breaks down how regional bank stocks are performing following the failure of Silicon Valley Bank.
JULIE HYMAN: We talked about the banks just now. Seana was just looking at the banks. I just wanted to check on them again because we are seeing stocks rise right now. But guess what? The banks still are not in the green. So that is not what is pushing us higher here. If we take a look at the interactive, there it is.
- Reversed on JPM.
JULIE HYMAN: The big banks here-- yes, JPM is now in the red. And then all the regional banks are in the red too. The only parts of green you see are the companies that aren't trading anymore.
JULIE HYMAN: We're talking about Silicon Valley Bank and Signature Bank that are both the halted, obviously. They're not going to be trading, at least for the foreseeable future. But if you go back to the sectors here. I was just curious, what is up? Safety is up, utilities, consumer staples, real estate.
- Gold. Gold was--
JULIE HYMAN: Yes.
- --caught a bid too as well, today is well.
JULIE HYMAN: Yeah. Maybe we can-- I'm going to take a quick look at the commodities here, since you're bringing up what's going on with gold and where people are going today. Oil is not higher. That's for sure. But yes, indeed, gold is trading higher, 2% today. And silver futures are also up. So that's where people are going, so some of the traditional defensives that we watch in this market.