SVB logo is seen through broken glass in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/IllustrationMarch 10 - Shares of U.S. banks extended recent losses on Friday, with regional banks hit hardest, as SVB Financial Group's, putting the tech-heavy lender into receivership in the largest bank failure since the 2008 financial crisis.
The state regulator appointed the Federal Deposit Insurance Corp to dispose of SVB's assets in an episode that spilled over into other U.S. and European banks and sparked fears about hidden risks. While SVB's stock was halted on Friday, shares of other mid-sized U.S. banks added to recent, heavy losses. The S&P 500 regional banks indexU.S. banks have lost over $100 billion in stock market value in two days, with European banks losing around another $50 billion in value, according to a Reuters calculation.
Totally getting a bail out over the weekend! A California company that’s woke! It’s a lock just watch
Silicone will start melting one by one Meta will go to metamorphic 😭
Good, get rid of the bad banks
The massive contagion effect is real. Will HSBC be in the midst of yet another financial crisis again I wonder? It was one of the key player in the 2008 Subprime mess
In retrospect Trump's roll back of Dodd-Frank was a bad idea.
Cant go lower since its no longer able to be traded.
No bailout!!!
Are we back in 2008 when 'the mighty have fallen'?
Fasten your seat belts.
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