U.S. stocks rallied Wednesday as both banks and big tech rebounded. For markets still reeling from the banking crisis, no news is good news.
. One bright spot: Australia's S&P/ASX 200 rose 0.89% to hit a two-week high, helped by mining, bank and tech stocks., even after the bank pleaded guilty in 2014 to those very charges.— which is why he was tasked to oversee the merger with Credit Suisse, UBS said. Traders liked the bank's new leader — U.S.-listed ones jumped 4.31%.The tumult in banks has affected regional banks badly — some have lost more than 30% in value this month.
The appointment seemed to assuage fears of wider banking turmoil. In the U.S., banks rose on the news. Citigroup climbed 1.61%, Wells Fargo advanced 2.12% and Morgan Stanley increased 1.6%. The SPDR S&P Regional Banking ETF added 1.07%.
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