The sudden collapse of Silicon Valley Bank, which marked the largest failure of a U.S. financial institution since the height of the Great Recession in 2008, has rattled financial markets and sparked fear of systemic tremors in the banking system.
Shares of the SPDR S&P Regional Banking ETF bounced Tuesday but remain down by more than 18% over the past five trading days after falling to its lowest since November 2020, according to Dow Jones Market Data.S&P 500 index: U.S. stocks have seen choppy trade over the past five trading days as investor fretted over the health of the banking system and contagion risks following the collapse of SVB, Signature Bank, and Silvergate Capital.
U.S. 2 Year Treasury note: The bond market saw wild swings as SVB’s collapse saw market participants sharply readjust expectations for future Federal Reserve rate increases. The dollar index edged up on Tuesday after February CPI report shows the inflation cooled modestly last month when measured year over year, in line with economists’ expectations, though the cost of food and shelter remained stubbornly high.
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