The Federal Reserve’s prolonged period of low interest rates created many financial dislocations that are now flaring up.Case in point: Silicon Valley Bank imploded in a single day after surging interest rates caused it to sell a bond portfolio at a huge loss.The situation is an example of how low-interest-rate risk-taking can backfire as financial… Continue reading Silicon Valley Bank imploded in a single day. It could just be the tip of the iceberg.
First Republic and PacWest Bancorp plunge as fears of contagion grow following the biggest bank failure since 2008
The implosion of Silicon Valley Bank has dragged down other regional banks as fears of contagion grow.Shares of First Republic Bank and PacWest Bancorp have plunged as much as 61% and 53% since Thursday, respectively.Both regional banks are growth-oriented and have exposure to venture capital customers. Loading Something is loading. Thanks for signing up! Access… Continue reading First Republic and PacWest Bancorp plunge as fears of contagion grow following the biggest bank failure since 2008
Dow tumbles 345 points as the biggest bank failure since 2008 rattles nerves
Carla Mozée REUTERS/Brendan McDermid Stocks dropped sharply Friday after regulators closed Silicon Valley Bank. The bank failure is the biggest since the 2008 financial crisis and has sparked contagion fears. The S&P 500 is close to losing its 2023 gains. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized… Continue reading Dow tumbles 345 points as the biggest bank failure since 2008 rattles nerves
‘This is a warning to the Fed’: Wall Street reacts to the collapse of Silicon Valley Bank, the biggest bank failure since 2008
Regulators shut down Silicon Valley Bank on Friday, putting it into FDIC receivership. Early Friday, trading was halted for the stock after it plunged 87% in two days. Wall Street strategists and executives shared their reaction to the first bank collapse since 2008. Loading Something is loading. Thanks for signing up! Access your favorite topics… Continue reading ‘This is a warning to the Fed’: Wall Street reacts to the collapse of Silicon Valley Bank, the biggest bank failure since 2008
Silicon Valley Bank’s implosion isn’t a canary in the coal mine and won’t result in contagion, RBC analyst says
Silicon Valley Bank’s implosion isn’t a canary in the coal mine, said RBC analyst Gerard Cassidy. Contagion is unlikely to spill over, since SVB was unique in its exposure to bonds, he told CNBC. SVB also held a low ratio of small customer deposits, meaning its funding is more sensitive to rates. Loading Something is… Continue reading Silicon Valley Bank’s implosion isn’t a canary in the coal mine and won’t result in contagion, RBC analyst says
Silicon Valley Bank has been shut by the FDIC
Regulators shut down Silicon Valley Bank, putting it into FDIC receivership. Trading was halted for the bank prior to the announcement. “At the time of closing, the FDIC as receiver immediately transferred to the DINB all insured deposits of Silicon Valley Bank.” Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading Silicon Valley Bank has been shut by the FDIC
Dow falls 543 points as US stocks slide ahead of important February jobs report
Jennifer Sor Bryan R Smith/Reuters US stocks sank on Thursday as investors brace for Friday’s key February jobs report. Investors are pricing in higher odds that the Fed dials rate hikes back up to 50 basis points later this month. Financial stocks were battered Friday after implosions at Silicon Valley Bank and Silvergate Capital. Loading… Continue reading Dow falls 543 points as US stocks slide ahead of important February jobs report
Bank stocks plunge after implosions at Silicon Valley Bank and Silvergate Capital send ‘shock waves’ through the sector
Bank stocks plunged on Thursday as investors assessed the potential fallout from the implosions of Silicon Valley Bank and Silvergate Capital.SVB Financial surprised investors with lowered guidance, a $2.3 billion capital raise, and a massive $1.8 billion loss from its bond portfolio.”This is sending shock waves through the financials with the regional bank ETF lower… Continue reading Bank stocks plunge after implosions at Silicon Valley Bank and Silvergate Capital send ‘shock waves’ through the sector
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