Bank stocks plunge resumes as SVB market turmoil continues

Published by
Reuters UK

(Corrects move in Credit Suisse shares in paragraph 3) By Alun John and Rae Wee LONDON/SINGAPORE (Reuters) – Bank shares in Europe and Asia plunged on Monday as the United States’ move to guarantee the deposits of the collapsed tech-focused lender Silicon Valley Bank failed to reassure investors that other banks remain finacially sound. Europe’s STOXX bank index fell 4.3%, having shed 3.78% on Friday, leaving it on track for its biggest two-day fall since Russia invaded Ukraine in February 2022. Commerzbank AG fell as much as 12%, Credit Suisse Group AG was down almost 11% as lenders across Br…

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