fargo, bank of america, jm morgan, morgan stanley lost $50 billion in market value in one day. that s a hit. on the other hand, those banks still exist. you can t say that for silicon valley bank. svb has gone under completely. that makes the second biggest bank failure in the history of this country. and the significant svb financed nearly half of all venture-backed healthcare companies in the united states. it held significant cash reserves for some of the biggest crip toe currencies. it s gone. federal regulators have rename it and taken it over. that means a lot of people lost a lotf of money. most of that money was not insured, no matter what they tell you. the fdic only guarantees bank deposits up to $250,000. nearly 90% of all deposits at svb exceeded that. and it s unclear if those people see their money again. in fact, when customers show up in svb s branch in manhattan to get the deposits back, managers called the police. so, what we have there is the 1929-style b
economy grew faster than expected in the first quarter thanks to robust consumer spending after lockdowns were lifted. but factory output has lagged due to weak global growth and this latest data raises questions about the sustainability of china s recovery. a market strategist told me these numbers show how uneven china s recovery has been. a pretty dire set of numbers, although services is still an expansion. it has come below expectations, but of course the bigger shock on the manufacturing side, and shows how uneven the recovery is in china. two things worth noting. first, we are coming from a strong first quarter where we had this initial euphoria after the reopening of the economy, as well as some benefit from the chinese new year period. so of course, manufacturers are a little bit downbeat after that initial euphoria has come down. secondly, my bigger concern is about geopolitics and the impact on making the external demand weaker for china s manufacturing sector. we
this is unprecedented and it is historic. the first time a former president has ever been criminally charged and therefor we don t have any real roadmap for how it will now play out. we do know former president donald trump will be arraigned next week in manhattan courtroo surrounded by extraordinary security fear also surrounded b security tonight the manhattan da alvin bragg leaving his office after grand jury decided he had to demonstrate probable cause in the case he has pursue against trump, alleging campaign-finance laws were broken but was so-called hush payments to stormy daniels she claims she had an affair with trump before he ran for president for the immediate question is how exactly the former president will be processed and charged to move surrendering to authorities. it is a process, and arraignment, just like anyone else. and then you go from there. trump himself responded with fury tonight saying in part, quote, the democrats have lied and cheated and s
warm welcome to our viewers joining us in the united states and all around the world. i m the anchor nobler max foster joining you live from london just ahead on cnn newsroom. dave. evacuations from the sudanese capital was launched from here in djibouti, a multinational effort led by the united states. we really fear that once a lot of the internationals have left, the fighting will really ramp up. president biden is expected to make his reelection bid official this week. if you take biden and your face them up against trump , biden leads that match up by three points. nobody knows what s happening. so it s the first instinct is the plane s going to bloat. life from london. this is cnn newsroom. max foster and bianca nobilo. it is monday, april 24th nine am here in london, 10 a.m. in sudan , where a growing number of foreign nationals are being evacuated as fighting rages between rival military factions . over the past day, more than 1000 people have been pulled out by vario
not a lot of information coming from police in terms of that mass shooting. we are standing right outside of that crime scene. if i step out of the shot, you can see there is still a crime scene tape up. investigators are poking there investigation on the brick building over there. the alabama law enforcement agency confirms that four people were killed in a multitude of others injured. after a shooting at a birthday party at this location around 10:30 central time saturday night. there were a lot of reports out there that a lot of the victims involved in this shooting were teenagers. police have not confirmed that information just yet. we did speak with a witness a few minutes ago. he said he was a dj at what he describes as a sweet 16. out of nowhere, everyone was startled by gunshots. he says that he does not recall altercation before hearing these gunshots. once the lights went up he saw a lot of bodies on the ground and he says he waited around as police were being cal