'Markets are wild': Credit Suisse leads Europe bank rout in renewed SVB fallout
In the United States, regional and large banks fell in the premarket. First Republic Bank was flat, with peers Western Alliance Bancorp and PacWest Bancorp down two per cent and 12 per cent, respectively.
Fink described the financial situation as the “price of easy money” and said in an annual letter that he expected more U.S. Federal Reserve interest rate increases. However, European Central Bank policy-makers are still leaning towards a half-percentage-point rate hike on Thursday, a source told Reuters, as they expect inflation will remain high.Investors had begun to doubt the ECB’s commitment to another big rate hike as SVB’s collapse rattled markets.
Moody’s Investors Service on Tuesday revised its outlook on the U.S. banking system to “negative” from “stable,” citing heightened risks for the sector.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Credit Suisse flags ‘material weaknesses’ in its internal controls over financial reportingCredit Suisse said it had not yet stemmed customer outflows as it released its delayed annual report on Tuesday
Read more »
Credit Suisse dives as banking turmoil takes hold in Europe: What's new in the SVB crisisFailure of Silicon Valley Bank and two other banks has thrown financial markets as investors bet interest rates will stop rising. Read more.
Read more »
Credit Suisse shares hit record low as its biggest backer says it can’t put up more moneyCredit Suisse is seeking to recover from a string of scandals that have undermined the confidence of investors and clients
Read more »
Money Monday: Five Steps to Keeping Your Credit Card Debt LowWith the cost of living so high, how can you avoid overusing your credit. Giving us five steps to keeping your credit low is Janet Gray, a Personal Finance Expert and Planner.
Read more »
Child dead after overnight fire in camping trailer on Mississaugas of the Credit First NationA child is dead after an overnight fire at a camping trailer on Mississaugas of the Credit First Nation.
Read more »
N.S. couple seeks more clarity around fertility and surrogacy tax credit | CBC NewsA Nova Scotia couple are waiting to start an application to claim back some of the costs of the treatment through the province's Fertility and Surrogacy Tax Credit.
Read more »