Banking System is Safe - Biden

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Downside risk for SPX to the low 3800s then mid 3600s, claims BofA

March 13, 2023 9:50 AM EDT

BofA's Stephen Suttmeier said in a note Monday that there is downside risk for the S&P 500 to the low 3800s and then mid 3600s.

"It happened very quickly. Supports held, and then they did not," the analyst told clients. "The SPX broken down from a January into March head and shoulders top.... More