U.S. stocks shake off earlier losses and turn higher despite bank contagion fears By Investing.com

*U.S. STOCKS SHAKE OFF EARLIER LOSSES AND TURN HIGHER IN CHOPPY TRADE DESPITE BANK CONTAGION FEARS $DIA $SPY $QQQ 🇺🇸🇺🇸

) on Sunday. They also announced a number of steps to shore up confidence in the banking system, offering a new bank facility and relaxing access to the Federal Reserve’s discount window to help banks reposition after rapidly rising interest rates.

Depositors of both Silicon Valley Bank and Signature will get their money back, regardless of whether it was insured. Uninsured deposits in limbo could have rippled through the economy, especially the venture capital and startup world SVB catered to. Many small companies with deposits there spent the weekend worrying about making payroll.First Republic Bank

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