Friday, March 17, 2023

Global banking suffers worst week since 2008. It ain't over yet

Last Friday, the biggest failure of a US bank since the global financial crisis was playing out in real time as a major lender to the tech industry succumbed to a classic bank run.
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Global banking suffers worst week since 2008. It ain't over yet
Last Friday, the biggest failure of a US bank since the global financial crisis was playing out in real time as a major lender to the tech industry succumbed to a classic bank run. Read more »
 
Silicon Valley Bank's former parent company has filed for bankruptcy protection
SVB Financial Group, the company that owned the failed Silicon Valley Bank until the US government took it over last week, has filed for Chapter 11 bankruptcy protection. Read more »
 
Credit Suisse got its lifeline. Investors are unconvinced
Credit Suisse is not out the woods just yet. Read more »
 
The banking meltdown put the Fed in a bind
With just a few days to go until the Federal Reserve's next interest rate decision, US policymakers are sitting between a rock and a hard place. Read more »
 
Latest on banks and global markets
Read more »
 
Asian markets rebound after First Republic Bank gets rescued by US lenders
Asian markets rebounded Friday after First Republic Bank was rescued by a group of major US lenders, which eased worries about the current banking turmoil. Read more »
 
 
 
 
Dow Nasdaq S&P
-384.57   -86.76   -43.64
31,861.98   11,630.51   3,916.64
-1.19%   -0.74%   -1.10%
YTD -3.88%   YTD +11.12%   YTD +2.01%
 
Biggest Winners
FedEx Corp +7.97%
 
Newmont Corporation +5.22%
 
Teleflex Inc +1.56%
 
Walmart Inc +0.81%
Biggest Losers
First Republic Bank -32.80%
 
US Bancorp -9.38%
 
Comerica Inc -8.44%
 
Lincoln National Corp -8.19%
Hottest ETF
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NYSE Market Volume
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Key Market Stats Latest Today's Change
Oil $66.35 -2.00 / -2.93%
Gold $1,990.40 +67.40 / +3.50%
10-yr 3.40% -0.19
Euro $1.07 +0.01 / +0.61%
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