Global stocks sink as rally fizzles out

Reports that four US banks would join forces to pump $30bn into stumbling lender First Republic failed to generate much optimism despite a brief early morning rally. Photograph: EPAEuropean stocks came under renewed pressure on Friday as Thursday’s relief rally faded from view. Reports that four US banks would join forces to pump $30 billion (€28bn into stumbling lender First Republic failed to generate much optimism despite a brief early morning rally.

Sentiment across global markets remained fragile in the aftermath of Silicon Valley Bank’s collapse one week ago.In a characteristically light St Patrick’s Day session on the Euronext Dublin, the Iseq index, down close to 2 per cent, gave back most of Thursday’s 2.3 per cent gain., down 3.4 per cent to €32.18 per share, was among the biggest movers on the day.

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