Major American banks suffered a loss in stock market value of roughly $90 billion on Monday, bringing their loss over the previous three trading days to almost $190 billion. This happened after recent collapse of Silicon Valley Bank. Local American banks took the biggest impact. Shares of First Republic Bank fell more than 60% after investors were left unconvinced by reports of new financing, and rating agency Moody's considered downgrading the bank. A recent tweet by The Spectator Index read, “US banks have now lost around $190 billion in market value over the past three stock-market trading sessions.” U.S. Banks Must Seek Regulatory Permission Before Engaging in Certain Crypto Activities, Says Regulator.
Check Latest Tweet by The Spectator Index:
US banks have now lost around $190 billion in market value over the past three stock-market trading sessions.
— The Spectator Index (@spectatorindex) March 14, 2023
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