The jobs market is still looking strong as the U.S. added 311K jobs in March, topping forecasts for 205K. The unemployment rate rose to 3.6% from 3.4% previously. bitcoin has added a few dollars, now barely back above $20K. SteveAlpher reports
While the Silvergate failure didn't arouse much concern outside of crypto circles, it was quickly followed aof SVB Financial , the holding company of tech-friendly lender Silicon Valley Bank . The banking sector – as represented by the SPDR S&P Bank ETF – tumbled 7.3% on Thursday.
The word"contagion" has now quickly re-entered the Wall Street lexicon, with investors now wondering if it's not crypto or tech that's the issue, but instead if the past year's surge in interest rates has left the banking sector sitting on sizable losses in their bond portfolios.
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