Shares of banks and other financial institutions fell as private-credit concerns lingered.
There are parallels between the current private-credit scare and the 2008 mortgage-bond crisis, partly because investors have lost faith in investment firms' "marks" for their assets, said former Goldman Sachs Chief Executive Lloyd Blankfein, speaking to Bloomberg television.
"The fact that central banks are more worried about inflation than weakening growth has set off a vicious cycle -- as long as Hormuz remains closed -- where higher oil prices drive bond yields higher, hurting the economy on two fronts and putting additional strain on private credit," said Lorenzo Di Mattia, manager of hedge fund Sibilla Global Fund, over a messaging service.
Retirement-services giant Corebridge Financial, a former AIG unit, and life insurer Equitable Holdings agreed to merge in an all-stock deal that values the combined company at $22 billion.
The mortgage-finance giant Fannie Mae will soon accept so-called crypto-backed mortgages for the first time, the latest expansion of cryptocurrencies into mainstream financial transactions.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
03-26-26 1721ET
