Melissa Armo, founder and owner of The Stock Swoosh, joined Cheddar News to discuss Wednesday's session as stocks closed down amid concerns over a banking crisis and ahead of next week's Fed meeting.

Wall Street

Wall Street down amid banking concerns

29. North Arnold founder, and owner of the stock swoosh on Melissa's. Good to have you on the show today, mixed-market, I think investors time trying to figure out what to do. What do you make of the state of play? Well, really, I don't look at it as a mixed-market. We've been down. We've been down for the last 2 weeks and I think it's really difficult area here for anyone to go long while people are optimistic. Like you said that the FED will back off next week, raising race meaning no no racing race at all like zero flat, that's what people are talking about today. What people want and what the FED is going to do. In my mind is two completely different things, so people can talk between now. And next week, what they want the FED to do, or what they think the FED should do, I believe that the FED is going to raise rates next week and of course, on the backdrop of it's still a pretty significant inflation. Melissa. How do we make sense of all of these moving Parts inflation, persistent concerns that there might be broader contagion in the banking sector and what it does mean for the consumer First of all, the the FED is trying to curb inflation, they've been attempting to do that. That's one of the reasons that interest rates have gone up so quickly and even they really did back off because they didn't raise raise the half last month. They raised it a quarter show there was talk last week of them, raising it a hat and the markets hold off on that. But now people are getting thinking that they're going to back off completely. I think they're probably going to raise raise the quarter of a point, not to have which they might have done based on the fact that there is all of this going on right now. With the banking industry, do I think that any other Banks go under? I don't know, I really don't know what all the other Banks exposure. I know everyone scrambling right now about that. And I think that and you know the feds tapping in are the FDIC stepping in and saying that they're going to secure insured and uninsured deposits at Silicon Valley Bank. I think it's something that people are now decided to feel well maybe they would do that. If other banks with the Wonder, that's not really what the rules are. The rules are 250,000 on deposit, so, I think it's going to be interesting in the coming days are really even the coming weeks to see how many banks kind of hold on. Because everyone problem right now is scrambling. The problem is with exposure to long-term Bond. So, again, for those people that don't know if people have, if you, when you buy a long-term Bond, if interest rates move against you, it actually than the value of the bond goes down, when interest rates are low, interest rates going down or staying low, then the valley with a bomb, could go up and the problem with spb bank as far as everything that we know. So far was, they are too much exposure of long-term bonds. And then when they had a problem trying to raise Capital, they were, they had to sell them at too great of a loss. I think people should sit tight if they can. So don't panic is my greatest suggestion. If your long-term investor, even though the market is well, off the hive knowing that full well, we could have another drop. You know, we could break the October Lowe's. I know no one thinks that's possible and no one thought that was possible. The beginning of the year because we really need Johnny where I think that that is possible. I think that could happen. And it's not just because of the fed and Rising interest rates. It is because of the economy is because of inflation. It is because we could go into recession and it's because what's happening Ukraine and Russia, I can eat another thing. The fact is that, if you're in the market long-term panic, because again, if you're younger than to go back, if you're in retirement, now, you really should have sat down and looked at this, you know, six months ago, as far as your investment, too many people, Rob, the Mystic, that things would turn around. And I think that the FED is going to keep raising Grace. And what does that really mean to economy will, will it remains to be seen? Melissa. I mean you watch this top charts very closely obviously you have a sense of where momentum is going on your right to know that by and large obviously has been down there off of the highest selling started in February. Very strong almost foam O'Reilly some called it that we saw in January and its continued here. I enter March, but what do the charts say? I mean, are we going one way or the other? The Mansion will first, while we were in a Range, if you want to look at it over all within a range since beginning of the year, however, we could go negative on the air, and if that happens in the next couple of days, it again, if the FED decides to Ray's razor, we get other economic data that the market decides to sell off or something else happens with bank. It's so now, think about it later and that's how people reacted again last week. So, I think contagion is the truest form of what happens. Because, you know, when you ever run on banks, what it means is that everyone gets scared. They panicked. And they want to go get their money out. No bank has all of the cash available for everyone to go out and take out their deposit. So, the reason that the FED came in and said they were going to say they were going to make good on all the deposits from the uninsured, depositors with extra past, BB was really mostly, I think to be able to contain. There wasn't a run on every single solitary Bank in the country. So yeah, contagion is a big part of it but it's really based on their Fear Factor and people panic and want to pull the deposits. It it's going to be a problem is going to be the problem for you as smart as it's going to be a problem. And nobody wants to see that happen. And I think the FED has a tough job in the next couple days. I'm sure they're evaluating things because if they don't raise rates and how we going to curb inflation, I personally I don't think raising crapes. The rest of the year is going to bring inflation data 2% cuz we're so far off of that. I think the biggest problem is oil oil prices are still too high. I do less oil prices come down. You're going to see continue prices be at the same level or slightly less even with the rising interest rates and Rising interest rates, could actually push us into recession. And that's the fear and do that. Cuz the only thing that they can possibly do to help with inflation, is, of course, lowering answer. I mean, raising interest rates for too long and it was founder and owner of the stocks Melissa. Thanks so much for joining today. Certainly A lot's going on out there on the stock market.

Volodymyr Zelenskyy has made a rare and defiant trip near the front line to personally thank soldiers that have been defending the devastated Eastern city of Bakhmut. It came as Russian missiles hit a residential building in Zaporizhzhia, killing at least one person and injuring more than 30 others.

Bakhmut

Ukraine Invasion

Zelenskyy's morale-boosting visit to Bakhmut

Tiktok Chief Executive Officer Shou Chew says the social media platform has not spied on Americans. He testifies before the US House Energy and Commerce Committee in Washington. 

Capitol Hill

Defiant TikTok CEO faces Congress grilling

French workers angry with a rise in the pension age blocked access to a terminal at Paris' Roissy-Charles De Gaulle airport on Thursday as part of a nationwide day of protests, forcing some travellers to get there on foot. Train services were disrupted and some schools shut while garbage piled up on the streets.

Paris Charles de Gaulle Airport

Protesters block access to Paris Airport

A group of TikTok content creators descended on the US Capitol Wednesday to protest against calls for a ban on the popular Chinese-owned video-sharing app, amid fears that it presents a national security threat.

Washington

TikTok creators protest looming U.S ban

New research published in the journal Current Biology uses DNA sequencing to uncover that the great composer did not die from lead poisoning after all...

Bonn

Scientists uncover cause of Beethoven's death

Australian Prime Minister Anthony Albanese fought back tears on Thursday as he revealed the question the government wants to ask in a referendum on whether to recognise Aboriginal and Torres Strait Islanders in the country's constitution. 

Canberra

Australia set to vote on indigenous referendum

Pakistan's former Prime Minister Imran Khan says it is only a matter of time before he is imprisoned or killed. He made the remarks in an online post, in which he spoke out against the government and the military. The Lahore district administration has granted permission to Pakistan Tehreek-e-Insaf (PTI) to hold a rally at Minar Pakistan between the night of the 25th and 26th of March.

Lahore

Imran Khan warns 'matter of time' before his murder

The United States Federal Reserve has announced its latest interest rate hike, a move aimed at lowering inflation by making borrowing more expensive for consumers. The increase of a quarter of a percentage point on Wednesday sets the US central bank’s benchmark overnight interest rate in the 4.75 to 5 percent range, its highest level in 15 years.

U.S interest rates hiked again

Former U.K. prime minister Boris Johnson clashed with MPs at a hearing over parties held at Downing Street while the rest of the country was in lockdown. The scandal, which drove Johnson out of the prime minister’s office, could now get him booted from Parliament.

London

Boris Johnson grilled over Partygate

Seventeen Ukrainian children who were sent to camps in Crimea by Russian officials were reunited with their families in Kyiv today. They are among thousands who were transferred to Russia or the regions it occupies. It follows charges laid against Vladimir Putin over the alleged kidnappings levelled by the International Criminal Court.

Kyiv

Children 'taken' by Russia returned

The House of Commons voted 515-29 to back a key portion of The Windsor Framework, designed to resolve a trade dispute between the UK and Northern Ireland.

Westminster

Sunak's Brexit deal clears Commons vote

Two Defence Force personnel have been injured after an Australian Army helicopter crashed into the water during routine counterterrorism training on New South Wales south coast. There were 10 personnel on board the aircraft when the incident occurred and all have been recovered from the water. Chief of Army Lieutenant General Simon Stuart says the incident had the potential to end in "tragedy".

Jervis Bay

Two army personnel injured in helicopter crash

Emmanuel Macron has defended his Government's decision to force the controversial pension reforms through Parliament during a rare national 
television address, designed to quell the violent protests that have gripped the country. The French President condemning the violence, saying he had 'no regrets' despite facing multiple no-confidence motions.

Paris

'No regrets': Macron defiance amid protests

Former British Prime Minister Boris Johnson insists he did not lie to lawmakers, defending himself at a parliamentary hearing as part of a probe into whether he misled lawmakers over rule-breaking Covid-19 lockdown parties. Johnson faced a grilling before a cross-party committee that has the powers to suspend the MP and force a by-election in his London seat.

'Hand on heart': Boris denies lying

Stocks on Wall Street have climbed after the rescue of Credit Suisse calmed nerves about a larger banking crisis. The United States treasury secretary, Janet Yellen, says the local financial sector is stabilising after it was put to the test by the collapse of two banks this month. But the world's largest economy is still facing some strong headwinds.

Banking Crisis

U.S bank failures 'very different' from 2008

Xi Jinping and Vladimir Putin stress that'“responsible dialogue' is the best way to resolve the Ukraine crisis as Moscow reaffirms its commitment to peace negotiations. The Chinese leader says Beijing has an “impartial position” on the conflict in Ukraine and supports peace as Putin says China’s peace proposals could be used as the basis for talks.

Moscow

Xi's trip to Russia: A boost for Putin

A Virginia grand jury formally indicted 10 people, including police officers and hospital workers, over the death of Irvo Otieno - a Black man who was restrained before he died in a mental health facility. His family demanded justice and mental health reform. 

Richmond

Video shows police 'piling on' man before his death

Lawyers for Fox Corp faced a sceptical judge on Tuesday (March 21) as they sought to block a $1.6 billion defamation lawsuit by Dominion Voting Systems from going to trial, while the voting-technology company accused Fox News of knowingly airing vote-rigging claims that the network knew were false.

Delaware

Fox News fights to avoid trial by jury

Russian President Vladimir Putin said Tuesday a Chinese peace plan could provide a basis for a settlement of the fighting in Ukraine when the West is ready for it. Speaking after talks with Chinese leader Xi Jinping, Putin charged that Ukraine’s Western allies so far have shown no interest in that.

Russian Sanctions

Putin: Ukraine 'doesn't want' peace

Former British Prime Minister Boris Johnson is battling for his political future as he tries to convince a cross-party committee that he 'unintentionally' misled Parliament over the Partygate scandal. If the committee decides he 'recklessly' misled MPs, he faces a suspension from Parliament that could force a by-election in his West London seat.

Boris Johnson in trouble again

A magnitude 6.5 earthquake was felt across huge swathes of Afghanistan, Pakistan, and parts of India on Tuesday night, forcing people to spend the night outside.

Islamabad

Deadly earthquake rocks Pakistan, Afghanistan

Japanese Prime Minister Fumio Kishida has offered strong support to Ukraine during a visit to Kyiv, inviting President Volodymyr Zelenskiy to the G-7 Summit in May.

In Kyiv, Japan's Kishida backs Ukraine

Russian President Vladimir Putin and Chinese leader Xi Jinping discussed Beijing's proposal for a ceasefire in Ukraine in talks in Moscow, while displaying a warm friendship forged on a mutual rivalry with the West. China has refrained from condemning Russia or referring to Moscow's intervention in its neighbor as an "invasion". It has also criticized Western sanctions on Russia.

Xi urges Ukraine ceasefire during Putin talks

The NATO Secretary General said China needs to "understand Ukraine's perspective" and engage with President Volodymyr Zelenskyy.

China 'must condemn' Russian aggression; NATO

Russian authorities on Tuesday detained human rights activists including members of the Nobel-winning Memorial organisation after raids on homes and offices, sparking an outcry among the international human rights community. 

Tsentralnyy administrativnyy okrug

Russian Police raid homes of Nobel Prize winners

Protesters are trying to pressure lawmakers to bring down the government and doom the unpopular retirement age increase President Macronis trying to impose without a vote in the National Assembly.

Protestors rally as Macron survives no-confidence vote

U.S. President Joe Biden signed a bill that requires declassification of information related to the origins of the coronavirus that causes COVID-19. Whether the pandemic was the result of a lab leak from China's Wuhan Institute of Virology, or jumped from animals to humans at a Wuhan market remains a hotly contested debate. China has said there is no credibility behind the lab leak theory.

Wuhan

Biden orders release of COVID intelligence

Russia has opened its own criminal investigation into the International Criminal Court's (ICC) prosecutor and judges. Russia’s Investigative Committee says the ICC has knowingly accused an innocent person of a crime, in another show of defiance against the court.

Russia retaliates after Putin arrest warrant

A damning report by an independent member of Britain's House of Lords has found that London's Metropolitan Police force is institutionally racist, sexist, and homophobic. In her report, Louise Casey says officers are not properly vetted and calls for wide-ranging reform.

London Police 'racist, sexist and homophobic'

Anticipation is building over reports that former U.S. President Donald Trump could be indicted as early as today. Barriers have been erected around a Manhattan courthouse in anticipation of protests after Trump called on his supporters to protest any moves to arrest him. 