_{ECONOMIC NEWS}

$6.4 Trillion Market Meltdown Sparks Fears of a 'Great Unwind' Just Beginning

Global markets are in turmoil, with the Nikkei dropping 12% in Tokyo, the Kospi falling 9% in Seoul, and the Nasdaq plunging 6% in seconds as trading opened in New York. Cryptocurrencies tanked, volatility soared, and investors fled to the safety of Treasury bonds. The selloff has wiped out $6.4 trillion from global stock markets in just three weeks, raising fears of a prolonged economic slump. The once-solid pillars of market confidence—U.S. economic strength, AI-driven growth, and low Japanese interest rates—have all been shaken, leading to panic among traders. The market chaos is reminiscent of the 1987 crash, with some experts warning of more turmoil ahead as the "great unwind" continues to unfold. Read More.

_{FINANCIAL 101}

FDIC-Insured Banks See Market Value Plummet by 40% to 69% Year-to-Date

Three FDIC-insured banks have seen their stock prices take a nosedive this year, with losses ranging from 40% to 69% year-to-date.

1. New York Community Bancorp (NYCB): Down 69%. The parent company of Flagstar Bank, NYCB has faced significant challenges, including a 1-for-3 reverse stock split in July, adding to investor woes.

2. Patriot National Bancorp (PNBK): Down 57%. With only eight branches and $1 billion in assets, this small Connecticut-based bank has struggled with ongoing losses, reflected in its declining share price.

3. First Foundation (FFWM): Down 40%. This regional bank, heavily invested in multifamily real estate, suffered a severe drop after a $228 million equity infusion from Fortress, which diluted existing shareholders.

These banks’ sharp declines underscore broader concerns about the stability of federally-insured institutions, especially as fintech and crypto ventures increasingly intertwine with traditional banking, posing new risks to the financial system. Read Now.