You Don't Have to Pick a Winner in Banks. Here's Why.
To put it lightly, 2023 has been a trying year for the financial sector. It began with the fall of SVB Financial's Silicon Valley Bank and has since sent a ripple through the sector that's lasted for the better part of the year.
Despite this, the financial sector (based on the financial companies in the S&P 500) is up for the year as of Aug. 12. It's up just over 2%, although that trails surging sectors like information technology and communications services -- up over 41% and 35% year to date, respectively. And there are a handful of sectors that are having a worse year.
Market fluctuations aside, now's not the time to jump ship on the financial sector. If anything, it could be a good time to find some value with the market sentiment generally negative toward the industry. Thankfully, you don't have to pick a winner to lead you; you can spread your investments across the sector.
Source Fool.com
