Silicon Valley Bank (SVB) collapsed last Friday, plunging US bank share prices.
However, investors appear to have slowed down the sell-off frenzy on Tuesday.
The share prices of banks in the
United States rebounded on Tuesday, improving after plummeting earlier on
Monday. The stocks had plunged a day ago over fear of the possible contagion
effects of the collapse of Silicon Valley Bank (SVB) and two other American lenders
in the country’s banking industry.
Finance Magnates reports that
SVB’s collapse cast a shadow on bank stock prices in the country on Monday, with the regional lender, First Republic Bank leading the pack as its shares slumped by over 60% to $28 a
share at one point during the market. Other banks and financial services companies saw
their stock prices plummet:
Western Alliance Bancorp 64% to $18, KeyCorp 37% to 11%, and PacWest
Bankcorp 30% to $7.
In addition, other bank stocks
declined significantly: Zions Bancorporation 25% to $30, Charles Schwab 11% to $52
and Bank of America 3% to $29, among others.
US Bank Stocks Shake Off SVB Fears
However, the market changed on
Tuesday, as the sell-off frenzy slowed down with investors returning to the
markets, suggesting that they are beginning to shake off the fear from the effects of SVB. At the time of filing this
report, the shares of First Republic Bank and Western Alliance Bancorp, which
saw some of the biggest declines yesterday, improved 28% to $40 a share and
14% to $30, respectively.
The shares of other banks also
shot up: PacWest Bancorp 34% to $35, KeyCorp 7% to $12, Zions
Bancorporation 4% to $31, Charles Schwab 9% to $57 and Bank of
America 0.88% to $29 a share, among others.
SVB collapsed last Friday, precipitated by the inability to halt a
bank run and its failed attempt to salvage the situation with extra funding. On Sunday,
the bank, which targeted early-stage technologies companies, went into receivership of the Federal Deposit Insurance
Corporation.
In their bid to forestall a
contagion, New York regulators on Sunday shut down Signature Bank in order to “protect dispositors.” Speaking to
Finance Magnates on Monday, Lars Holst, the Founder and CEO of digital broker
GCEX, expressed surprise at Signature Bank’s
fallout. Furthermore, the CEO expects the
successors of the failed banks to emerge from the United Arab Emirates.
The share prices of banks in the
United States rebounded on Tuesday, improving after plummeting earlier on
Monday. The stocks had plunged a day ago over fear of the possible contagion
effects of the collapse of Silicon Valley Bank (SVB) and two other American lenders
in the country’s banking industry.
Finance Magnates reports that
SVB’s collapse cast a shadow on bank stock prices in the country on Monday, with the regional lender, First Republic Bank leading the pack as its shares slumped by over 60% to $28 a
share at one point during the market. Other banks and financial services companies saw
their stock prices plummet:
Western Alliance Bancorp 64% to $18, KeyCorp 37% to 11%, and PacWest
Bankcorp 30% to $7.
In addition, other bank stocks
declined significantly: Zions Bancorporation 25% to $30, Charles Schwab 11% to $52
and Bank of America 3% to $29, among others.
US Bank Stocks Shake Off SVB Fears
However, the market changed on
Tuesday, as the sell-off frenzy slowed down with investors returning to the
markets, suggesting that they are beginning to shake off the fear from the effects of SVB. At the time of filing this
report, the shares of First Republic Bank and Western Alliance Bancorp, which
saw some of the biggest declines yesterday, improved 28% to $40 a share and
14% to $30, respectively.
The shares of other banks also
shot up: PacWest Bancorp 34% to $35, KeyCorp 7% to $12, Zions
Bancorporation 4% to $31, Charles Schwab 9% to $57 and Bank of
America 0.88% to $29 a share, among others.
SVB collapsed last Friday, precipitated by the inability to halt a
bank run and its failed attempt to salvage the situation with extra funding. On Sunday,
the bank, which targeted early-stage technologies companies, went into receivership of the Federal Deposit Insurance
Corporation.
In their bid to forestall a
contagion, New York regulators on Sunday shut down Signature Bank in order to “protect dispositors.” Speaking to
Finance Magnates on Monday, Lars Holst, the Founder and CEO of digital broker
GCEX, expressed surprise at Signature Bank’s
fallout. Furthermore, the CEO expects the
successors of the failed banks to emerge from the United Arab Emirates.
Solomon Oladipupo is a journalist and editor from Nigeria that covers the tech, FX, fintech and cryptocurrency industries. He is a former assistant editor at AgroNigeria Magazine where he covered the agribusiness industry. Solomon holds a first-class degree in Journalism & Mass Communication from the University of Lagos where he graduated top of his class.
After 40 Years of Service in Financial Industry, This Veteran CFO Retires
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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