The collapse of Signature Bank and Silicon Valley Bank sent shockwaves through the financial markets, but it may fuel a rebound in other areas of the market. Several analysts have suggested that the added pressure on the financial sector could slow the pace of Fed rate hikes, which would likely help certain risk assets.
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Ark Innovation ETF (ARKK)
While most of Wall Street is in panic mode amidst the banking crisis, Cathie Wood’s flagship Ark Innovation ETF (ARKK) reeled in $397 million in new money on Tuesday, the most significant one-day inflow since April 2021, according to FactSet.
Investors are piling into the innovation fund under the belief that the current banking chaos may cause the Federal Reserve to pause its rate hike campaign, which would benefit growth stocks.
“Once the Fed stops looking backward at CPI inflation and starts addressing the deflationary banking crisis that a 19-fold increase in short rates and an inverted yield have caused, we would not be surprised to see a return to the Roaring Twenties,” Wood said in a tweet early Wednesday.