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The SPDR S&P Regional Banking ETF (KRE) made its debut on 06/19/2006, and is a smart beta exchange traded fund that provides broad exposure to the Financials ETFs category of the market.
Guggenheim Securities Co-Chair Jim Millstein says the community bank system is sound and the recent issues are idiosyncratic during an interview with Sonali Basak on "Balance of Power."
Banks are quietly starting to experience larger loan and investment losses, particularly in commercial real estate loans. Financial institutions from New York to Munich to Tokyo are reporting surprising losses from commercial real estate.
The SPDR S&P Regional Banking ETF (KRE) and iShares US Regional Banks ETF (IAT) have moved into a correction in the past few weeks, falling by over 13% from the YTD high. KRE has retreated to $46.83 while IAT has moved below $40.
Shares of regional banks were hit especially hard on Tuesday after an inflation reading came in surprisingly strong, raising more concerns about potential fallout to commercial real estate from higher interest rates.
Chris Marinac, Janney Montgomery Scott, joins 'Fast Money' to talk the state of regional and big banks after both sectors sunk in today's sell off.
Shares of New York Community Bancorp are down yet another day. Consider that one measure of small banks has been flat for nearly two decades.
It's not just worries about high interest rates and commercial real estate that are plaguing regional banks in the U.S., according to DataTrek Research.
U.S. regional-bank shares on Monday extended their slide from last week, as traders reacted to the latest comments from Federal Reserve Chair Jerome Powell saying the central bank is planning on waiting to cut interest rates until later this year.
Jonathan Krinsky, BTIG chief market technician, joins 'Closing Bell' to discuss his expectation for more downside risk to the market.