Financial Times

US stock market shrugs off bank woes as investors flock to Big Tech

Despite chaos in the US banking sector causing historic swings in bond markets, the US stock market remains flat, with investors flocking to Big Tech companies like Apple, Microsoft, and Google.

US stock market remains flat despite historic swings in bond markets and banking sector crisis.
Cautious positioning in the run-up to the crisis limited losses, while calm at the index level has masked a significant shake-up in certain sectors like banks.
Many of the people who were liable to dump stocks in a crisis had already done so by the time Silicon Valley Bank collapsed on March 10.
Lower rates provide a boost to high-growth areas like tech, which have a disproportionate impact on the S&P 500.
The broader index holds up while under the surface the breadth is breaking down, with the Russell 2000 index of small cap stocks dropping almost 9%.

Charting the Global Economy: Central Banks Hold as Prices Cool

Central banks around the world are pausing tightening campaigns as inflation eases and economies slow. Inflation-targeting regimes are keeping their own houses in order, while the US Fed's key inflation gauges fell to the slowest annual paces since late 2021.

Factbox: Turkey earthquake and some of the worst natural disasters of this century

Two massive earthquakes on Monday have devastated cities and towns across Turkey and Syria, with death toll of over 16,000. This is one of the worst natural disasters this century, alongside the 2004 Sumatran Tsunami, 2010 Haiti earthquake and 2008 Cyclone Nargis.

Take Five: Strap in for no landing

A raft of U.S. data and European inflation numbers will give guidance on how the world's top central banks will navigate the way ahead, including the hotly debated "no landing" scenario. Reports on U.S. durable goods orders, home prices, manufacturing and consumer confidence threaten to cement expec

Read next