Traders return to their desks tomorrow following Friday's selloff

Published: March 19 2023, 18:00 GMT+0

Traders return to their desks tomorrow following Friday's selloff

  • First Republic Bank was the biggest decliner Friday after giving up 32.8% As things stand, GoHealth (down 24.46%) and Bright Health (down 12.19%) are underperforming today
  • European markets were down Friday as CAC is currently down 1.43% and trading around 6,925.4.

Before tomorrow's session: leading equity indices in the US declined as Dow Jones closed at 31,862, a 1.19% change. After dropping 1.1%, S&P 500 closed at 3,916.64.

US markets are now currently closed and set to reopen tomorrow; meanwhile, European markets closed lower Friday. Asia-Pacific markets closed higher Friday whilst Nikkei rises to 27,334 (up 1.2%).

Friday's bearishness meant that First Republic Bank lost 32.8% Friday before closing at $23.03. GoHealth (down 24.46%), Bright Health (down 12.19%) also underperformed Friday.

Bright Health Group Inc. has dropped 17.73 cents over the past 5 days; Friday's session continued this downtrend. Daily trading volume (11.44 million shares) increased, making up 390% of the 21-day average (2.94 million).

First Republic Bank has been dropping for 7 days, losing $88.95, with Friday's session maintaining the downtrend. Daily trading volume (139.67 million shares) was higher than the current multiday average of 10.72 million. First Republic Bank disclosed a quarterly dividend of 27 cents per share on Friday, January 13th that was paid on Thursday, February 9th to all shareholders of record up until Thursday, January 26th. Based on current prices, the company's decision thereby provides First Republic Bank investors with an annual dividend yield of 4.69%.