⚠️BREAKING: *FIRST REPUBLIC LEADS REGIONAL BANK RALLY AS TREASURY SECRETARY YELLEN VOWS AT MORE ACTION IF NEEDED $FRC
NEW YORK - Wall Street advanced on Tuesday as widespread fears over liquidity in the banking sector subsided and investors turned their focus to the Federal Reserve, which has convened for its much-anticipated two-day policy meeting
But banking stocks bounced back on Tuesday, surging 3.6%, and building on Monday's reversal. Still, despite its recent resurgence, the S&P Banks index has lost nearly 18% of its value just this month. Treasury Secretary Janet Yellen, in prepared remarks before the American Bankers Association, said the U.S. banking system has stabilized due to decisive actions from regulators, but warned more action might be required.
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