Market Extra
The colors of the American flag are illuminated earlier this month during a visit by U.S. President Joe Biden to Dublin, Ireland. A multitude of risks facing the U.S. economy are at the center of Tuesday’s worldwide drop in equities.
Leon Neal/Getty Images
Equities dropped in the U.S., Asia and Europe on Tuesday as a combination of recession, banking, and debt-ceiling risks facing the world’s largest economy came together and dented the appetite for risk-taking. The decidedly risk-off sentiment began in Asian markets outside of Japan after California’s First Republic Bank reported a disappointing 41% first-quarter drop in deposits in an announcement released late Monday, reigniting worries about the U.S. banking system. European stocks also broadly fell, followed by all three major U.S. stock indexes DJIA SPX COMP. It wasn’t just banking issues that weighed on investors,…
