1. Market sustained further losses following an unanimous decision by the FOMC to further increase the fed fund rate by +0.25%.
2. Comments made by Fed Chair Powell failed to ease concerns over ongoing banking crisis. Banking groups KRE and KBE declined further by -1.8% and -1.6%,
3. Several regional banks experienced significant losses after hours, PPACW -52%, WAL -22%, , indicating that banking crisis is far from resolved.