Shares in the midsized lender continued to tumble as fears grow about First Republic's financial health grow even after it received a $30 billion lifeline from its bigger rivals last week.
Big companies such as Amazon and Google have recently announced layoffs. On Wall Street, getting cut is always acknowledged as an ever-lurking prospect — but it still stings when it happens.
The markets have rallied this year as investors believe inflation will continue to ease and that the economy will avoid a recession – but it could end in tears.
Nearly all the chief executives in a new survey — 98% — say they're getting their ducks in a row for an impending economic downturn in the United States.
All three indexes fell after worse-than-expected inflation data raised expectations the Fed will need to continue raising interest rates aggressively to bring prices under control.
Companies are bracing for potential trouble ahead by lowering their advertising budgets, cutting costs and adapting to their customers' changing spending habits.
All that whipsawing on Wall Street in the first half of the year reflects real nervousness. Investors are worried the Fed may tip the economy into a recession.
