SNAPSHOT Wall St opens lower on bank contagion fears
on Friday after a failed capital raise triggered concerns about risks to other banks from the Federal Reserve's sharpest rate hike cycle since the early 1980s.
Regulators over the weekend stepped in to restore investor confidence in the banking system, saying Silicon Valley Bank depositors"When a step this big, this quickly, your first thought is crisis averted. But your second thought is, how big was that crisis, how big were the risks that this step had to be taken?" said Rick Meckler, partner at Cherry Lane Investments.
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Silicon Valley exhales after US intervenes in SVB collapseA wave of relief swept over Silicon Valley Sunday following a tense weekend of board meetings, emergency funding plans and pleas for help after regulators stepped in to backstop the region’s embattled namesake bank.
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Fed to hold emergency meeting on Monday amid SVB's swift collapse By Investing.com*FED TO HOLD EMERGENCY MEETING ON MONDAY AMID SVB'S SWIFT COLLAPSE -
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