Bank collapse fears go global

Plus, the US-Russia drone collision.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 

US stocks slump amid global banking fears; a Russian aircraft collides with a US drone over the Black Sea.   Tonight's Sentences was written by Jariel Arvin. TOP NEWS European bank turmoil sparks global financial panic Andrea Ronchini/NurPhoto via Getty Images Wall Street stocks fell sharply Wednesday as a European bank sparked fears of a global banking sector meltdown in the wake of Silicon Valley Bank's collapse. [Washington Post / Jeanne Whalen, Rachel Lerman, and Steven Mufson] US shares of Switzerland's Credit Suisse fell to historic lows after the bank failed to secure additional funding from its biggest investor. [Reuters / David Carnevali] Stocks also fell due to investor uncertainty about what recent bank collapses mean for the Federal Reserve's plans to hike interest rates. [Associated Press / Stan Choe] The Dow Jones Industrial Average dropped 280.83 points, while shares at big and regional banks also sank 2-10 percent, reversing brief gains. [CNBC / Alex Harring, John Melloy, and Samantha Subin] Meanwhile, US wholesale price increases declined 4.6 percent annually last month, fueled by lower food costs, a sign inflation could be easing. [CNN / Alicia Wallace] 📍 Go deeper Vox's Dylan Matthews explains why the Silicon Valley Bank collapse couldn't have happened in Massachusetts. [Vox / Dylan Matthews] The US drone downed in the Black Sea US officials say a Russian aircraft collided with a US drone on Tuesday, forcing the US to down it over the Black Sea. [Vox / Jen Kirby] A Pentagon official said the Defense Department may declassify and release the collision footage after Russia claimed the drone crashed on its own. [AP / Lolita C. Baldor and Tara Copp] The collision marks the first physical contact between Washington and Moscow since Russia's invasion of Ukraine; Russia and the US are racing to recover the drone remains, risking further tensions. [CNN / Rob Picheta] Also on Tuesday, German and British air forces conducting NATO training intercepted a Russian refueling plane after it failed to communicate with Estonia's air traffic control. [BBC / Christy Cooney] MISCELLANEOUS OpenAI released GPT-4.0, an updated version of its AI chatbot ChatGPT, that can build websites and recognize images, for $20 a month. [Vox / Shirin Ghaffary] Tuesday, Wellesley College voted to allow trans men and non-binary students to attend the institution that has historically served women. [Guardian / Gloria Oladipo] Bob Junior, one of Africa's most striking lions, was killed by rivals at Tanzania's Serengeti National Park. He was around 10 years old. [BBC / Alfred Lasteck] Vox explains why Tesla is no longer the top choice for electric vehicle buyers. [Vox / Rani Molla and Peter Kafka] Help us reach our goal   We're aiming to add 5,000 financial gifts from readers by Sept 30. Give today to help keep Vox free Give VERBATIM "When you have worries about contagion and a financial crisis, there is increasing risk of a global recession." [Anthony Saglimbene, chief market strategist at Ameriprise, on the impact of the stock market slide / AP] LISTEN TO THIS Origins: The meaning of "life" For every definition of life, there's a creature that sends us right back to the drawing board. This is the third episode in our three-part series, Origins, about the beginnings and boundaries of life on Earth.   Listen now   ▶ Read more from Vox Ron DeSantis is using Ukraine aid to win over the GOP base What YouTube hustle gurus are really selling you Steve Bannon's go-to funder Guo Wengui just got indicted for fraud You probably have "forever chemicals" in your body. Here's what that means. 9 questions about Silicon Valley Bank's collapse, answered This email was sent to edwardlorilla1986.paxforex@blogger.com. Manage your email preferences or unsubscribe. If you value Vox's unique explanatory journalism, support our work with a one-time or recurring contribution.   View our Privacy Notice and our Terms of Service.   Vox Media, 1201 Connecticut Ave. NW, Floor 12, Washington, DC 20036. Copyright © 2023. All rights reserved.