U.S. stocks shake off earlier losses and turn higher despite bank contagion fears By Investing.com

) on Sunday. They also announced a number of steps to shore up confidence in the banking system, offering a new bank facility and relaxing access to the Federal Reserve’s discount window to help banks reposition after rapidly rising interest rates.

Depositors of both Silicon Valley Bank and Signature will get their money back, regardless of whether it was insured. Uninsured deposits in limbo could have rippled through the economy, especially the venture capital and startup world SVB catered to. Many small companies with deposits there spent the weekend worrying about making payroll.First Republic Bank

Billionaires and millionaires being bailed out by working people, once again….

15 months later and this market has learned no lessons about self control and greed

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European stocks lower; contagion fears hit banking sector hard By Investing.com⚠️BREAKING: *GLOBAL STOCKS ERASE GAINS, RESUME SELLOFF AS CONTAGION FEARS HIT BANKING SECTOR Don't joke about the economy with interest. Whether interest rates are low or high, the economy crashes and companies go bankrupt. unemployment is rising, poverty is rising. Do not rely on interest. Interest is the enemy of the economy The time of extreme fear is now.
Source: Investingcom - 🏆 450. / 53 Read more »