Weekly market update

Wall Street professionals were taken by surprise this week as stocks rallied, despite turmoil in the banking sector. The S&P 500 rose by 1.43%, while the STOXX 50 fell by -3.89% and the Nikkei 225 fell by -2.88%. Volatility indexes rose: VIX rose by 0.71 points to 25.51, VSTOXX rose by 8.87 points to 30.04, VNKY rose by 1.53 points to 19.42. The rally was sparked by the rescue of First Republic, as well as positive inflation data. Bank stocks experienced a substantial jump, however, there is still a focus on risks of European banks.



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