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The Fed has broken the market yet again, sending it lower after deciding to raise interest rates once more by a quarter of a percentage point. After the announcement, stocks all across the market fell, led by financials and energy.
With all the turmoil in the financial sector leading up to yesterday, we think this could be an area of the market to keep on watch, more specifically, the regional banks.
SPDR S&P Regional Banking ETF (KRE)
Experts have all chimed in with their thoughts on how this banking crisis could play out, but few have said we are fully out of the woods at this point. One of the most prominent of these famed investors who has said the worst has yet to come with regional banks is billionaire investor Bill Ackman. Should the ground give out on this industry, a short trade could be…
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