Europe's bank stocks weakened slightly on Wednesday, after Japanese peers clawed back some of their heavy losses, as regulators and financial executives hosed down contagion concerns after last week's Silicon Valley Bank collapse.
Destroyed SVB logo is seen in this illustration taken March 13, 2023. REUTERS/Dado Ruvic/Illustration//File Photo/File Photoweakened slightly on Wednesday, after Japanese peers clawed back some of their heavy losses, as regulators and financial executives hosed down contagion concerns after last week's Silicon Valley Bank collapse.
Markets and financial authorities remained on edge, however, with U.S. deposit holders seeking the safety of larger banks amid growing worries about the health of smaller institutions and the prospect of more failures in the sector.rate hike on Thursday, despite turmoil in the banking sector, as they expect inflation will remain too high in coming years, a source told Reuters.
Investors had begun to doubt the ECB's commitment to another big rate hike this week after the collapse of Silicon Valley Bank in the United States sent shockwaves across markets.
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