Global banking shares plunged on Monday as moves by the United States to guarantee deposits at collapsed tech-focused lender Silicon Valley Bank failed to reassure investors that other banks remain financially sound. Europe's STOXX banking index fell 5.8%, having shed 3.78% on Friday, leaving it on track for its biggest two-day fall since March 2022, soon after Russia invaded Ukraine. Commerzbank AG
One year after the Federal Reserve started frantically raising interest rates, the collapse of Silicon Valley Bank answered what had become perhaps the hottest question on Wall Street: When is something going to break?
The global economy is showing vigor, with business surveys this week pointing to a widespread revival in growth despite rising borrowing costs and elevated energy and food prices, a sign that central banks may need longer than anticipated to bring.
March 6 (Reuters) - Euro zone government bond yields
fell on Monday as market focus shifted to the U.S. ahead of
Federal Reserve Chair Jerome Powell's testimony on Tuesday. Fed officials last week. | 06:26am