Major US banks up on trade fear relief after major selloff in previous session

Shares of major Wall Street banks rise in premarket trading as broader markets gain after major selloff on Tuesday

JPMorgan Chase JPM.N, Goldman Sachs GS.N, Morgan Stanley MS.N, Bank of America BAC.N and Citigroup C.N are up; Morgan Stanley leads the gains with 1.6% rise

Yield on 10-year Treasury notes also up 4 basis points to 4.2517% on Wednesday

Traders now see the central bank lowering borrowing costs for the first time this year in June, according the data compiled by LSEG

U.S. stock index futures rose as investors take comfort from signs that President Donald Trump could relieve some of the trade restraints he has imposed

S&P 500 Banks .SPXBK index on Tuesday saw its biggest ever one-day drop since March 2023