Bank stocks are continuing to drop Monday as Wall Street worries about what may be next to topple following the second- and third-largest bank failures in U.S. history.
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The rain and snow is expected to extend from Central California to Oregon, as well as northern Nevada. High winds are also a concern.
Silicon Valley Bank, the nation’s 16th-largest bank, failed after depositors hurried to withdraw money this week amid anxiety over the bank’s health. It was the second biggest bank failure in U.S. history after the collapse of Washington Mutual in 2008.
The atmospheric river, known as a “Pineapple Express” because it brought warm subtropical moisture across the Pacific from near Hawaii, was melting lower parts of the huge snowpack built in California’s mountains.
“It’s heaven sent for a skier because I can ski until Memorial Day,” said Dan Lavely, 66, a Reno resident who’s been skiing for about 40 years.
Some of the market’s sharpest drops again came from the financial industry, where stocks tanked for a second day.
Drugs known as statins are the first-choice treatment for high cholesterol, but people who cannot take those pills because of side effects may have another option.
The bank had $209 billion in assets and $175.4 billion in deposits as the time of failure, the FDIC said in a statement.
Eight people were wounded in the shooting, including a woman who was 28 weeks pregnant and lost her baby.
Stocks stumbled on Wall Street Thursday and added to the week’s losses as markets remain anxious about the prospect of more aggressive action by the Federal Reserve.
The financial blueprint that he’s announcing Thursday will serve as a political talking point for a president preparing to run for re-election.
Senate Republican leader Mitch McConnell was hospitalized after tripping at a local hotel, a spokesman for the senator said.
Russia unleashed a massive missile barrage on cities across Ukraine early Thursday, targeting energy infrastructure facilities in the first attack on such a scale in three weeks.
Federal Reserve Chairman Jerome Powell said the Fed would closely scrutinize data on hiring, retail sales and inflation before settling on its next move.
The new scene was created with ChatGPT, the software that has fascinated the internet for several weeks now.