With Morgan Stanley Crashing The Most In 3 Years, What's Going On With The Banks

On a day when former Wall Street wunderkind, Morgan Stanley, is plunging the most since the covid collapse, and plumbing the lowest level in three years...

... financial stocks are having a very bad day as the market's attention turns increasingly from the sterling money-center giants to the nearly insolvent smaller and regional banks. And, with everyone scrambling for color to make sense of today's puke, Goldman financials trader Sarah Cha writes (full note available to pro subs) that from a single stock perspective, this is how Goldman's trading desk thinks stocks should trade today from best to worst based on investor feedback on the desk: NDAQ > STT > TRV > USB > MTB > CFG > ALLY > MS > IBKR .. (desk views only)