Investors flocked to safe-haven assets amid an emergency plan to backstop the banking system and limit the impact from the collapse of Silicon Valley Bank.
Category: Finance News
Stocks making the biggest moves premarket: Illumina, First Republic, Seagen and more
Bank lenders saw major losses in early morning trading, stinging from the closure of Silicon Valley Bank and Signature Bank.
SVB depositor rescue was a move that even this mother could love
People like her were pulling money out of their bank accounts to buy Treasurys.
Silicon Valley’s ‘greed and avarice’ have ‘finally come home to roost’ in SVB collapse, trader says
“Banking should be boring, a lot like watching paint dry — and any time it’s not, you’ve got a problem,” one investor told CNBC.
Stablecoin USDC nearly regains $1 peg after Circle says $3.3 billion held with SVB will be available
Circle, which issues USD Coin (USDC), said that the $3.3 billion it held with the now-collapsed SVB will be “fully available” on Monday when U.S. banks open.
Silicon Valley Bank collapse hits startups as far away as China
The Silicon Valley Bank fallout has ripple effects on Chinese startups.
Bill Ackman says U.S. did the ‘right thing’ in protecting SVB depositors. Not everyone agrees
Billionaire investor and Pershing Square CEO Bill Ackman said the U.S. government’s intervention to protect depositors after the implosion of SVB is “not a bailout.”
Bitcoin jumps 10% with crypto market topping $1 trillion as U.S. creates backstop for SVB depositors
Cryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the bank’s U.K. arm.
UK’s taxes are at a 70-year high. But its finance minister won’t splash the cash at upcoming Budget
British Finance Minister Jeremy Hunt will deliver the government’s Budget commitments on Wednesday against a better-than-expected economic backdrop.
In his first address, China’s new premier says high quality growth is a priority
China’s new premier Li Qiang said China’s focus was shifting to what it calls high-quality development, such as building up tech and so-called green industries.