Shares of companies in the broader financial sector are trading lower amid overall market weakness on concerns over further rate hikes.
Portfolio Pulse from Benzinga Newsdesk
Shares of companies in the broader financial sector are trading lower due to concerns over further rate hikes. This is causing overall market weakness.
July 06, 2023 | 4:09 pm
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NEGATIVE IMPACT
Bank of America's shares are trading lower due to concerns over further rate hikes.
As a major player in the financial sector, Bank of America is directly impacted by rate hikes. Higher interest rates can increase borrowing costs, potentially reducing profitability.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley's shares are trading lower due to concerns over further rate hikes.
Morgan Stanley, as a significant financial institution, is directly affected by rate hikes. Increased interest rates can raise borrowing costs, potentially impacting profitability.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
UBS's shares are trading lower due to concerns over further rate hikes.
As a major financial institution, UBS is directly impacted by rate hikes. Higher interest rates can increase borrowing costs, potentially reducing profitability.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100