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The Street
The Street
By Bret Kenwell Regional banks are getting crushed on worries triggered by SVB Financial. As such, the SPDR S&P Regional Banking ETF (KRE) has paid a big price. Following Federal Reserve Chairman Jerome Powell’s two-day testimony on Capitol Hill, investors were coming to realize that higher-than-expected interest rates were likely on the way. Surprisingly, investors seemed to take the information mostly in stride — as in, the market was down but was not being pummeled. Instead, the regional banking news has sparked a larger fear. First, Silvergate Capital (SI) – Get Free Report collapsed, shar…