Bank stocks tumble as fears grip markets on bank failures
Banks led declines with First Republic dropping 61.8 percent after stressing finances with Fed cash support. JPMorgan Chase and Bank of America fell while the Dow slid about 0.3 percent and the Nasdaq rose, as investors priced in potential Fed rate pause or cuts to ease pressure on markets.
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New York
U.S
Federal Reserve
Wall Street
S&p
Silicon Valley Bank
Signature Bank
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Jpmorgan Chase
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ING
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Mortgage rates climb as economy grows amid tight housing market
Mortgage rates rose for a fifth week to 6.73 percent as Freddie Mac data show rate hikes amid strong job growth and persistent inflation. The piece notes housing affordability pressures, sparse inventory, and buyer and seller guidance from real estate experts on navigating higher costs and potential equity options.
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United States
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Sam Khater
Evangelou
Danielle Hanes
Realtor.com
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McClatchy News
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Hale
Pfizer to buy Seagen for 43 billion dollars
Pfizer agreed to acquire Seagen Inc. for 229 per share in cash, aiming to expand cancer drug access and ADC based therapies. The deal boosts Pfizer's oncology portfolio with Seagen’s four approved treatments and a robust development pipeline, including Adcetris and Tukusa, while bolstering revenue prospects.
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Pfizer
Seagen Inc
Albert Bourla
Bothell
Washington-based
Seagen
Bourla
Array BioPharma
Tukusa
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