S&P 500 Nears 3-Week High As Bank-Fueled Market Anxiety Calms

Stocks gained yet again Monday as badly bleeding bank stocks bounced back and major indexes continued to recover their March losses.

indicating the pace of deposit outflows from smaller banks slowed and federal regulators mulled an extension of a lending backstop designed to aid First Republic.The “panic” from earlier this month has subsided to possibly “allow for a more rational market to re-emerge,” Oanda analyst Craig Erlam declared in a Monday note to clients, though Erlam cautioned he may simply be “too hopeful for a Monday.”U.S.

bank stocks cratered to multi-year lows this month, as giants like Bank of America sank to their lowest levels since the early days of the pandemic and regional banks like First Republic, PacWest, Western Alliance and Zions fell to all-time lows.Though stock prices have recovered, the risk appetite among non-institutional investors remains dampened.

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