Bank Shares Plummet Up to 74% in Pre-Market Trading Despite Biden’s Guarantee Scheme for SVB And Signature Bank – Amid Fears of a Banking Rout Mount When Stock Market Opens at 9.30am
- Bank Shares Plummet Up to 74% in Pre-Market Trading Despite Biden’s Guarantee Scheme for SVB And Signature Bank – Amid Fears of a Banking Rout Mount When Stock Market Opens at 9.30am
by ROSS IBBETSON FOR DAILYMAIL.COM, https://www.dailymail.co.uk/home/index.html
* First Republic Bank’s shares dropped as low as $21.50 from a high of $81.76 amid fears of a banking rout when Wall Street opens trading at 9.30am
* Biden is due to speak at 8am in an attempt to shore up trust in the sector after the White House yesterday guaranteed it would make SVB customers ‘whole’
* Investors are smelling blood in the water this morning, with multiple US banks suffering in early trading after overnight plummets in Europe and Asia
–
Bank shares plummeted up to 74 percent in pre-market this morning despite Joe Biden‘s efforts to calm investors after the collapse of Silicon Valley Bank. First Republic Bank’s shares dropped as low as $21.50 from a high of $81.76 amid fears of a banking rout when Wall Street opens trading at 9.30am. Biden is due to speak at 8am in an attempt to shore up trust in the sector after the White House yesterday guaranteed it would make SVB customers ‘whole’ and that ‘no losses will be borne by the taxpayer.’
–
read more.
end