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after banking shares saw sharp falls on monday. the sell off continued in asia with japan s largest banks also seeing heavy losses. shares of mufg, miz uho and smfg were all down around 8% in trading. the nikkei exchange was down over 2% overall. here in europe, we ve seen credit suisse drop another 5% in early trading. on monday, major us banks lost around %90 billion in stock market value, bringing their loss since svb s collapse to nearly $190 billion. many are now speculating the federal reserve will pause its plans to keep raising interest rates, designed to tame inflation. we re nowjoined by greg swenson, who s an international investment banker, founding partner at brigg macadam. talk to me about the perception of rate rises being not only part of the cause of this but also now the federal reserve having a rethink about what it does for the cost of borrowing given what we have seen in the banking sector. great borrowing given what we have seen in the banking sect ....
tax officials for more than a decade. now the new york attorney general wants the business dissolved. trump is also running out of options into the ongoing investigation of classified documents seized from his mar-a-lago estate. they ruled the doj can resume looking over those classified records. it no longer needs to submit items to the special master, rejecting arguments from trump s legal team. two of the judges on the panel were appoint bid trump. let s begin with kaitlyn polantz following the story. kaitlyn, it s a big win for the doj. what does this mean specific lip for their on going investigation of those classified documents, how they were held, why they were held and any criminal consequences? jim and poppy, the justice department now gets to do exactly what they wanted to be doing all along which is reviewing those 100 or so records taken out of mar-a-lago that have classified markings on them, and the federal appeals court that ruled last night, the maj ....
lets now get down to business. the biggest interest rate rise since 1989. that s what we are awaiting from the bank of england in just a few hours time as it battles to control soaring prices. the bank is widely expected to raise its benchmark rate from 2.25% to 3% pushing up the cost of mortgages, credit cards and loans. it comes as america s central bank the us federal reserve raised its main rate by three quarters of a percentage point and warned borrowing costs will have to go higher than many are expecting. michelle fleury has this from new york. this is the fourth time in a row that the us central bank has raised interest rates so aggressively, with another hike possible in december. the rapid pace of increases is in response to prices that have been rising at their fastest pace in four decades. now, as the race to beat inflation continues, the question for everyone is, will mr powell and his colleagues really keep up this pace? in its statement, for th ....
About what it does for the cost of borrowing given what we have seen in the banking sector. great borrowing given what we have seen in the banking sector. the banking sector. great question. we saw speculation the banking sector. great question. we saw speculation in the banking sector. great question. we saw speculation in the - the banking sector. great question. we saw speculation in the markets| we saw speculation in the markets yesterday and there is a report from goldman suggesting they would not tighten at the meeting in a few weeks but the challenges, after the cpi print today, you have already seen the market pricing in a 25% basis increase, a likelihood of 85% probability, so i am not sure that they are going to have, i don t think they can turn around at this point, it is clear powell is dedicated to indicating that the rates will be higher for longer and even though there is a speed bump with the crisis over the weekend, the cpi print is indicating that 0k, they are no ....
Lag time between hiking interest rates and the impact on the actual economy. we usually expected to be around six months, possibly nine months. there is potentialfor this to be overdone but it seems the fed is not concerned about that at the moment. let’s about that at the moment. let s talk about about that at the moment. let s talk about the about that at the moment. let s talk about the bank about that at the moment. let s talk about the bank of about that at the moment. let s talk about the bank of england because we are acutely aware in the uk of the price we pay when markets react like they did following the minute budget in september. we don t want to go back there in terms of market reaction. today we shouldn t see that, should we? it is priced in, that the bank of england could go as far as a 75 basis increase. basis increase. correct. the market had basis increase. correct. the market had this basis increase. correct. the market had this priced - basis increase ....