2023-04-17 10:36:00 ET
Banks have been in the spotlight recently, and some of them are getting attention for all the wrong reasons. With the massive rise in interest rates over the past year putting pressure on bank balance sheets, shares of some sizable financial companies have suffered.
With the market bouncing back more recently, some investors have hoped that the worst of the banking crisis might be over. Even if that's the case, though, it doesn't mean smooth sailing for bank stocks is directly ahead. Indeed, downward moves from State Street (NYSE: STT) and Charles Schwab (NYSE: SCHW) Monday morning show that there are still a host of concerns facing bank-stock investors right now.
Shares of State Street were down 11% in early trading Monday morning. The financial services provider behind the well-known SPDR line of exchange-traded funds has had to deal with the impact of the bear market in stocks for more than a year now, and even a rebound on Wall Street hasn't translated to the financial results from State Street that shareholders have wanted to see.
For further details see:
Bank Stocks Are Still Under Pressure -- Here's the Latest