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The KBW Nasdaq Regional Bank Index experienced its most severe drop since March, decreasing by 6%. This slump was primarily instigated by New York Community Bancorp, Inc. (NYSE: NYCB), which saw a nearly 40% drop following a Q4 loss of $260 million, consequent to distressed commercial real estate loans. ....
U.S. Treasury yields dropped to their lowest levels so far in 2024 on Thursday as renewed concerns about the regional banking sector and higher-than-expected jobless claims pushed investors. ....
Global equity markets rebounded on Thursday on expectations that interest cuts by the Federal Reserve and other central banks were coming, though not as soon as hoped for, while Treasury yields slid. ....