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CNBC's "Fast Money"

Is There Any Alternative to Tech? And Big Banks Come to the Rescue of First Republic 3/16/23

CNBC's "Fast Money"

CNBC

Investing, News, Business

3.91.3K Ratings

🗓️ 16 March 2023

⏱️ 44 minutes

🧾️ Download transcript

Summary

Banks may be under pressure this week and markets may be volatile, but no one seems to have told big tech. The FANG+ names have been crushing the broader market this week, but can their outperformance continue. Plus a wild day for First Republic Bank as big banks come to the regional’s rescue. What’s next for the trade? Fast Money Disclaimer

Transcript

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0:00.0

Right now in fast the bank, rescue by the banks, first for public getting billions from

0:06.1

the nation's blue chip banks to shore up its balance sheet, this on the 15th anniversary

0:10.7

of JP Morgan's fire sale purchase of Bear Stearns.

0:13.6

Plus, a new shot across the valve or TikTok, the Biden administration threatening to ban

0:17.4

the social media app if the Chinese do not sell their state, could Beijing bite back and

0:21.8

retaliate against their tech titans.

0:24.0

And later, inside the mind of the individual investor, we'll hear why the anxiety index

0:28.4

tracking the group is screaming like a toddler dropped their ice cream.

0:32.0

I'm Melissa Lee.

0:33.0

This is fast money.

0:34.0

We're live at the Nas like market site on the death of night Karen Feinerman, Carter

0:36.7

Worth, Guy Dami and Tim Seymour.

0:39.4

We start off with the latest news out of the Fed, the central bank just releasing details

0:42.9

on its latest balance sheet showing just how much banks tapped its lending window this

0:47.2

past week.

0:48.2

Steve Leastman joins us now with some new details here, Steve.

0:52.8

Yeah, Melissa, we have some new numbers, some big numbers, but we don't necessarily have

0:57.4

answers about what all these numbers mean.

0:59.8

Let me walk you through it and I'll tell you what we know and what we don't know.

1:02.7

Okay, so the Federal Reserve balance sheet increases by $297 billion.

1:07.0

That's the most we've had since the pandemic began that I started liquefying the economy

1:10.9

again.

...

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