Morgans AM: Monday, 20 March 2023

US equity markets retreated as concerns re-emerged around the stability of the banking sector - Dow fell -385-points or -1.19%, The broader S&P500 -1.10%, with Financials (down -3.29%) leading all eleven primary sectors lower on Friday 17 March). FedEx Corporation rallied +7.97% after the economic bellwether posted fiscal third quarter earnings after the close of the last Thursday’s (16 March) session that comfortably topped Wall Street estimates. The Nasdaq lost -0.74%. The small capitalisation Russell 2000 lost -2.56%.