MARCH 15 — European bank stocks fell sharply today, with embattled Credit Suisse tumbling to a new low, on renewed investor concerns about stresses within the sector triggered by...
MARCH 15 — European bank stocks fell sharply today, with embattled Credit Suisse tumbling to a new low, on renewed investor concerns about stresses within the sector triggered by Silicon Valley Bank's sudden collapse.
Big banks including JP Morgan Chase, Citigroup and Bank of America were all hit, by between 2% and 4%. Rapid rises in interest rates have made it harder for some businesses to pay back or service loans, increasing the chances of losses for lenders who are also worried about a recession. In the United States, the focus is shifting to the possibility of tighter regulation of banks, particularly mid-tier ones like SVB SIVB.O and New York-based Signature, whose collapses triggered the market tumult.
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