Worldwide Financial Markets Fearful of Largest Bank Collapse Since 2008
After Silicon Valley Bank’s collapse on Friday, New York-based Signature Bank Shut Down by US Regulators
First Silicon Valley Bank, and now Signature Bank failed. On the latter, it failed on Sunday. This marks only the sixth time that a Federal Deposit Insurance Corporation (FDIC) bank failed on a Sunday. Bankrate’s analysis of FDIC data shows it was also the first Sunday bank failure since 1991.
And today, reports show that 30 banks were “Halted by NYSE Equities” this morning:
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