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MARKET WRAP: JSE pares losses as global markets assess fallout from SVB’s collapse

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Gains in local precious metals and resources stocks helped lift the JSE off its intraday worst levels

The JSE pared losses on Monday, ending off its intraday worst levels, as global stock investors assessed the implications of the Silicon Valley Bank collapse.

The US Treasury and Federal Reserve stepped in to provide emergency funding to the banking sector at the weekend in the face of a potential banking crisis after the sudden collapse of SBV on Friday...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.

 

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Business Maverick: S&P futures jump on SVB backstop, rate bets shift: markets wrapUS stock futures rallied more than 1.5% while the dollar and bond yields tumbled as investors digested the steps taken by regulators to shore up the American financial sector in the wake of Silicon Valley Bank’s failure.
Source: dailymaverick - 🏆 3. / 84 Read more »