Markets Retreat on Regional Bank Issues

Market Overview - Markets experienced a downward trend after a strong opening, with the Dow closing down 301 points (-0.65%), S&P 500 down 0.63%, and Nasdaq down 0.47% [2] - The small-cap Russell 2000 fell 52 points (-2.09%), reversing its previous gains [2] - Bond yields decreased, with the 10-year yield at +3.98% and the 2-year yield at +3.42% [2] Regional Bank Concerns - A $50 million loan default at Zions Bancorp (ZION) contributed to market declines, with Zions shares dropping 13% [3] - The default raised concerns about the overall economy and the health of regional banks, impacting index levels [3] CSX Earnings Report - CSX reported Q3 earnings of 37 cents per share, below the expected 42 cents, although adjusted earnings would have been 44 cents per share [4] - Revenues of $3.59 billion slightly missed the $3.60 billion forecast [4] - Despite good volume levels (+2% quarter over quarter), pricing weakness in export coal affected performance [5] - CSX shares rose 2.8% in late trading, contributing to an 11.5% year-to-date gain [5] Upcoming Economic Reports - No significant economic data is expected on Friday due to the ongoing federal government shutdown [6]