The Fed is paying something like $700 million PER DAY to commercial banks to keep the system from falling apart.

!

— Elon Musk (@elonmusk) October 20, 2023

What’s Going On With the Banks? Morgan Stanley Crashing The Most In 3 Years!

Financial stocks are facing a significant downturn today. Notably, Morgan Stanley’s stock has taken a nosedive, experiencing its steepest drop since the covid collapse and hitting a three-year low. While the larger financial institutions are under scrutiny, concerns are mounting over the solvency of smaller, regional banks. Goldman’s financial trader, Sarah Cha, provided insights into the stocks’ performance projections for today. Rankings from best to worst, based on investor feedback, are as follows: NDAQ, STT, TRV, USB, MTB, CFG, ALLY, MS, and IBKR. These views represent the perspective of Goldman’s trading desk.