Uneasy calm descends after SVB-triggered turmoil

Published by
Reuters

By Dhara Ranasinghe LONDON (Reuters) – An uneasy calm descended on world markets on Wednesday, with efforts by regulators and financial executives to ease contagion fears sparked by the collapse of Silicon Valley Bank (SVB) shoring up sentiment. But in a week that has seen banking shares around the world tank – the S&P 500 regional banks index has slid 18% – the mood remained fragile. The European Central Bank is still leaning towards a half-percentage-point rate hike on Thursday, despite turmoil in the banking sector, given high inflation, a source close to its Governing Council told Reuters….

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