And who knows what happens tomorrow.

That is the scorecard on Wall Street,

but winter stay late.

Welcome to Closing Bell overtime.

I am John Fort with Morgan Brennan,

and we've got the full coverage of the new banking fears

unfolding in Europe and the impact on markets and your investments.

And we've got Adobe earnings just minutes away.

Also coming up this hour we're going to talk to former Wells Fargo, CEO Dick Kavasovich and current KBW CEO

Tom Michaud about contagion risks and the stability of the global banking

system. Plus former SEC Chairman J Clayton will join us to talk about Silicon Valley Bank

and news that the Justice Department and the SEC are now investigating its collapse.

So let's get straight to the news out of Europe that sparked today's sell-off and the headlines

this afternoon that partially turn things around.

The NBC's Hugh's son is here to explain what's going on.

Hugh, why does Credit Suisse matter for U.S. depositors, U.S. investors,

and is it because incidents like this scare the whole banking sector

and scared banks lend less? Hey, John, yeah, there isn't that direct a correlation for U.S. deposit holders?

There actually, is my understanding, really not, you know, wealth management, you know, clients,

that's more for the Europeans.

If there's a presence in the United States,

it's through investment banking.

...