News Formal

SA banks bleed after US lender slumps 60% | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 35 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 80%

Nederland Nieuws Nieuws

Nederland Laatste Nieuws,Nederland Headlines

The world's biggest banks took a stock market beating on Friday as signs of trouble at a US regional lender sparked concerns over the wider sector. | News24_Business

The four biggest US banks lost a whopping $52 billion in market value on Thursday after shares in SVB Financial, a major lender to the tech industry, sank by 60 percent.

Tokyo-listed Mitsubishi UFJ Financial Group gave up more than six percent while HSBC lost around three percent in Hong Kong, as did National Australia Bank in Sydney. SVB chief executive Greg Becker sought to reassure customers about the bank's financial health on Thursday, the Wall Street Journal reported, citing people familiar with the matter.

In another blow, crypto banking giant Silvergate said it planned to close as the sector faces more turmoil. Investors fear that the Fed could tip the economy into recession if its rates are too steep and held high for too long.Bank of America and Wells Fargo both fell 6.2 percent, while Citigroup was down 4.1 percent.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 4. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Business mood nosedives to two-year low on load shedding | BusinessSouth African business sentiment declined to a two-year low in the first quarter as severe power outages and dilapidated logistics networks hobbled economic activity. | News24_Business _Business Vote 🗳️ vote 🗳️ vote 🗳️ f…. Anc _Business I'm tired of pretending Please educate... What does 'declined to a 2-year low' mean _Business Today I closed my once very successful business. Lot of people without jobs now. Families without an income. I had enough.... immigrating to New Zealand in a month. Good luck SA... I wish you all the very best!
Bron: News24 - 🏆 4. / 80 Lees verder »

Business Talk – South Africa’s leading online business talk showBusiness Talk is the best place for your executives to share their insights and experience with a wide South African business audience.
Bron: BusinessTechSA - 🏆 24. / 61 Lees verder »

Business confidence in South Africa continues to circle the drainThe latest RMB/BER Business Confidence Index shows warning signs for business in South Africa.
Bron: BusinessTechSA - 🏆 24. / 61 Lees verder »