5/31/2023 0 Comments Susannah flood buttRead more: How Silicon Valley Bank skirted Washington's toughest banking rulesĭanni Hewson, AJ Bell head of financial analysis, said the first rush of relief has been replaced by niggling concerns that the era of high rates might be more difficult for some banks to stomach than had been previously thought. “Although immediate financial lifelines for tech start-ups around the world have been maintained, attention is now turning to how they will be able to secure fresh funding for the longer term, particularly with venture capital drying up and investors reeling from the Silicon Valley Bank shock.” Susannah Streeter, head of money and markets at Hargreaves Lansdown, said: “The expectation that the hiking cycle won’t now go quite so high in the US, did help the broader S&P index.but losses became entrenched during trading in Asia, with the fear factor spreading. The Shanghai Composite ( 000001.SS) also lost ground, falling 0.72% to 3,245 points. In Asia, Tokyo’s Nikkei 225 ( ^N225) lost 2.19% to 27,222 points, while the Hang Seng ( ^HSI) in Hong Kong dropped 2.46% to 19,210. “The Fed may be concerned about financial stability and it may encourage it to question its decisions but inflation must be viewed to be on a path back to 2% or it will have to do more,” he said. Most European banks continue to face selling pressure with HSBC ( HSBA.L) and Standard Chartered ( STAN.L) near the bottom of the FTSE 100.”Ĭraig Erlam, a senior market analyst at OANDA, also noted that markets have drastically pared back interest rate expectations. “Land Securities ( LAND.L), British Land ( BLND.L) and Rightmove ( RMV.L) are among the outperformers on the UK index amid hopes of a dovish tilt from the Bank of England. Victoria Scholar, head of investment at Interactive Investor, said: “In a frenetic period for markets, European indices have started the session oscillating between gains and losses with the FTSE 100 trading lower while the DAX is currently in the green. Credit Suisse ( CS) led the declines across European financials after the Swiss lender said it found "material weakness" in its internal financial reporting controls, adding to its woes.
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