United States President Joe Biden replied positively when asked by reporters if he is "confident the bank crisis has calmed down," according to a White House transcript, APA reports citing Teletrader.
The Dow Jones fell by as many as 400 points on Friday as worries about the sector persisted. Banks that received liquidity backing, First Republic and Credit Suisse, saw their shares plummet again.
Biden did not elaborate on his answer or provide any updates. He previously called on Congress to impose penalties on banking executives for "mismanagement and excessive risk-taking" and to make it easier to recover compensation from them.