European markets head for positive open; investors keep an eye on Silicon Valley Bank fallout
in the failed bank and make additional funding available for other banks.
On Friday, Silicon Valley Bank was taken over by regulators after massive withdrawals a day earlier created a bank run. All SVB depositors will have access to their money starting Monday, according to a joint statement from the Treasury Department, Federal Reserve and the FDIC., a big lender in the crypto industry, in a bid to prevent the spreading banking crisis.
Asia-Pacific markets traded mixed on Monday as investors reacted to the latest move be U.S. regulators to stem further systemic risk.CNBC Pro: Shares of this little-known global chip firm are set to rise by 50%, Barclays says Shares of a U.K.-based technology company that designs custom chips and semiconductors are expected to rise by more than 50% over the next 12 months, according to Barclays Equity Research.
The investment bank said a rapidly growing data center space would "drive sales and profit growth faster than other company in our coverage."
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