Europe's stock markets and the euro have slumped on renewed fears of contagion following the collapse of Silicon Valley Bank
EUROPE’S STOCK MARKETS and the euro have slumped on renewed fears of contagion following the collapse of Silicon Valley Bank.
“The financial sector in Europe is under significant turmoil today as a result of SVB’s fallout,” noted Naeem Aslam, chief investment officer at Zaye Capital Markets.It follows the demise over the weekend of US lenders SVB and Signature Bank – the biggest casualties since the global financial crisis of 2008.
Bank shares tumbled across Europe, with Germany’s Commerzbank and France’s Societe Generale and BNP Paribas shedding more than 10 percent. British lender Barclays gave up about 7%.
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