The Federal Deposit Insurance Corp.’s quarterly banking profile report provided no lift to bank stocks, which fell sharply on Wednesday. FDIC Chairman Martin Gruenberg said banks “face significant downside risks from the effects of inflation, rising market interest rates, slower economic growth, and geopolitical uncertainty.” The FDIC’s first-quarter report included results in the banking sector up until March 31. The quarter ended only about three weeks into the regional banking turmoil that continued well into the second quarter after the FDIC took over Silicon Valley Bank on March 10. “These results…include the…
