🏆 Today's Chart of the Day was shared by Kevin Gordon (@KevRGordon).
- The KBW Regional Bank Index ($KRX) just logged its worst session since Liberation Day, sliding -6.7% to its lowest close in more than two months.
- On a relative basis, Kevin notes it was the worst day for Regionals vs. the S&P 500 ($KRX/$SPX) since March 2023, when Silicon Valley Bank collapsed.
- Regional Banks are the largest industry group in the Russell 2000, making up almost 10% of the index, and they're often regarded as a leading indicator for the broader market.
The Takeaway: Regional Banks suffered their worst session since April today, and their worst relative performance since March 2023, sending a risk-off message to the broader market.
