Market Extra: From SVB’s sudden collapse to Credit Suisse’s fallout: 8 charts show turbulence in financial markets

by | Mar 17, 2023 | Stock Market

A tumultuous week in the U.S. financial markets ended on an uncertain note Friday after a massive $30 billion injection of big-bank deposits into First Republic Bank failed to calm investors.  Last week, the sudden meltdown of three U.S. banks – Silvergate Capital, Signature Bank
and Silicon Valley Bank – began to rekindle concerns about weakness in the banking sector amid sharply higher interest rates.

SVB Financial Group
on Friday filed for Chapter 11 bankruptcy and said it will seek a court-supervised reorganization. Silicon Valley Bank was put into Federal receivership following a run on its deposits. In a matter of days, other regional banks and financial firms have been swept up in the selloff. First Republic Bank
another California midsize bank, saw its stock price hit an intraday record low this week, before the bank was promised a $30 billion pledge of deposits from a group of the country’s largest banks including JPMorgan Chase
Bank of America
Wells Fargo
and Citigroup
In Europe, shares of Swiss banking giant Credit Suisse
slumped to about $2 a share in New York trading. The bank said on Thursday it intended to borrow up to 50 billion Swiss francs ($ …

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