Global banking stocks rout deepen as Silicon Valley Bank collapse stokes crisis fears
Assurances from Joe Biden and other US policymakers do little to calm markets
Source: gulfnews.com
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Biden vows to do 'whatever needed' for bank system after SVB meltdown
Major US banks lost around $90b in stock market value on Monday.
Source: dealstreetasia.com
Global banks continue to get hammered as fears over SVB collapse deepen
SVB's customers were given access to all their deposits on Monday.
Source: dealstreetasia.com
WRAPUP 4-Global bank stock rout deepens as SVB collapse fans contagion fears
Biden's efforts to reassure markets and depositors came after emergency U.S. measures to shore up banks by giving them access to additional funding failed to dispel investor worries about potential contagion to other lenders worldwide. Banking stocks in Asia extended declines on Tuesday, with Japanese firms hit particularly hard as anxiety about systemic risk sparked a wider rout in markets.
Source: devdiscourse.com
The US should appoint a non-American to head the World Bank
US priorities are not always in step with the World Bank and other international financial institutions
Source: qz.com