Global financial markets lost $465 billion in just two days due to the bankruptcy of the American Silicon Valley Bank (SVB). In this respect informs Bloomberg agency.
The collapse of the SVB dragged global financial markets down on Friday and Monday amid fears that other banks could also face underfunding due to losses in their bonds. On Monday, US Treasury yields fluctuated after falling amid expectations that the Federal Reserve will delay rate hikes amid banking turmoil.
The publication noted that amid the market panic caused by the collapse of the SVB, offers from US regional banks suffered the most. For example, the KBW Regional Banking Index fell 7.7%. Shares of First Republic fell 73% in three sessions, making this bank a loss leader. By contrast, the shares of European banks gradually stabilized. The only exception was the 4.4% drop in the value of Credit Suisse Group shares.
For the most part, large banks in North Asia face minimal risk of extinction, according to Bloomberg. However, the shares of Japanese banks were most affected in the Asian region. For example, shares of Jimoto Holdings, Tsukuba Bank and Fukushima Bank lost more than 10% in three days.
on CNN eve knowledgeableHe said that the attempt by the US authorities to eliminate the consequences of the collapse of the SVB did not give confidence to investors and caused a global panic in the financial market. CNN noted that although HSBC (FTRXX) bought the UK arm of SVB for £1 and reassured customers that they could continue banking as usual, stocks began to drop in the early morning hours.