Stocks Mixed As Bank Fears Recede

Global stock markets fluctuated on Tuesday as fears of a banking crisis ebbed after weeks of turmoil

London, (UrduPoint / Pakistan Point News - 28th Mar, 2023 ):Global stock markets fluctuated on Tuesday as fears of a banking crisis ebbed after weeks of turmoil.

On Wall Street, the Dow opened higher but the S&P 500 and tech-heavy Nasdaq fell, while Europe's main indices seesawed in afternoon trading and Asia was mixed.

"Markets are uninspiring today because of the lack of fresh catalysts to encourage the bulls, following the recent financial-sector turbulence," said Fawad Razaqzada, analyst at City Index and Forex.com.

Most equity markets had advanced Monday as bank shares jumped after US lender First Citizens bought most of collapsed rival Silicon Valley Bank (SVB).

The gains followed last week's rout over concerns that the turmoil in the sector -- which sparked the UBS takeover of Credit Suisse -- could hit other major institutions, such as German giant Deutsche Bank.