US banks face trouble

Chase shares dropped 5 to 79-5/16 on Friday on the New York Stock Exchange, as did most broker and big bank stocks. Not all gains will vanish, since banks also hold stakes in private companies, which are relatively immune to Nasdaq8217;s downturn, analysts said. In addition, many portfolios are run by seasoned investors who have weathered prior market dives, and not all investments are in tech companies, they said.

quot;What we are seeing in Nasdaq is not going to wipe out venture capital gains, but they will certainly be a lot lower if this keeps up,quot; Cohn said. quot;The problem is that you are coming off such high base that for some of these companies, the drop will be noticeable.quot;