Men’s Luxury Lifestyle—Aspirational and Inspirational
Starting an online business has become increasingly popular over the years due to its flexibility, scalability, and low start-up costs. With the rise of the digital age, it has become…
Discover whether building multiple streams of passive income is essential for creating long-term wealth. Explore advantages, investment strategies in real estate, stocks, online businesses, and diversification to achieve financial security and stability.
Insurance is a necessary aspect of life, and one of the most important types of insurance to have is life insurance. Life insurance can provide you and your family with…
Money is an essential aspect of life, and everyone wants to save it for their future or to fulfill their desires. Saving money may seem difficult for many people, but…
Introduction Budgeting is an essential tool that can help you achieve financial success. By creating a budget, you can gain a better understanding of your income and expenses, reduce debt,…
Shares of regional banks in the United States experienced a significant decline on March 13, led by First Republic Bank, amid concerns of possible bank contagion after the collapse of SVB Financial Group and Signature Bank. First Republic Bank’s reassurance of meeting withdrawal demands with additional funding from JPMorgan Chase & Co did little to keep the stock afloat, resulting in multiple trading halts. Other regional lenders also tumbled, with Western Alliance, KeyCorp, Comerica Inc, Huntington Bancshares Inc, and PacWest Bancorp down between 16% and 29%. The KBW regional banking index fell 5.4%, while the S&P 500 banking index dropped 6%. The fear of a crisis of confidence in the stickiness of deposits was cited as the real issue for the industry, causing things to move quickly when dislocated.
The crypto market experienced a surge on Monday despite the announcement of the closure of Signature Bank, the last major crypto bank in the United States. Bitcoin rose by more than 15% to $24,382.98, while Ether rose by 9% to $1,683.20, according to Coin Metrics. This jump in the crypto market came after regulators announced plans on Sunday to backstop depositors in failed Silicon Valley Bank and provide additional funding to other banks. Investors are betting that the Federal Reserve will be less aggressive in raising interest rates now that regulators have stepped in to limit the fallout from SVB and Signature. Despite the closure of Signature Bank, the crypto market remained unfazed, and prices continued to rise. However, the closure of Silvergate and Signature banks leaves crypto with few on-ramps for fiat money to flow into crypto assets, causing concerns among crypto investors and entrepreneurs.
SVB Financial Group, the holding company for Silicon Valley Bank, saw its shares plummet by 60% after it launched a $1.75bn share sale in a bid to shore up its…
