Wall Street pummels regional banks, despite Biden’s assurances
Wall Street’s confidence in regional banks remained shaky Monday, despite emergency measures from the Biden administration to protect customer deposits. First Republic shares fell more than 60% and were briefly halted for volatility. Western Alliance Bancorp’s stock also fell 47%, and PacWest Bancorp fell more than 20%. The SPDR S&P Regional Banking exchange-traded fund fell 12%. People were seen waiting outside a Silicon Valley Bank branch location in Boston, Massachusetts, on Monday, March 13, following the announcement of the bank’s collapse. Lines formed outside other Silicon Valley Bank branch locations in Massachusetts, CBS News reported. The reports of lines came as US President Joe Biden spoke to the press about the Silicon Valley Bank situation on Monday morning. During the assurance briefing, Biden said taxpayers would shoulder none of the costs associated with the collapse of the Silicon Valley Bank, claiming U.S. banking system is still safe. Credit: Chris Grondin via Storyful
-
2:28
Scottsdale Bullion & Coin
1 year agoShattered Trust: Why No Bank is Safe in the Face of the Banking Crisis | The Gold Spot
44 -
5:16
RT
1 year agoLargest bank collapse since 2008 strikes fear on financial markets worldwide
2.54K27 -
13:18
Worldview Financial TV
3 months agoAnother Bank Crash Jolts Financial Sector
23 -
3:41
RT
1 year agoMajor US bank collapses in biggest failure since 2008 crisis
20.7K37 -
9:57
Better Wealth
7 months agoWhy Small Banks Are Vanishing And What It Means For You
22 -
3:48
Erick Kuvshinikov - Southern California Real Estate Broker
1 year agoWe had another bank failure today.
161 -
57:04
CRNDigitalTalk
1 year agoPanic Time: Joe Biden Says Banking System Is Safe
21 -
1:51
ketoburn1
1 year agoHow Silicon Valley Bank Collapsed In 48 hours ?
16 -
0:31
Matt Kohrs
1 year agoThe Wall Street Banking Scandal
1.84K -
16:10
galacticstorm
1 year agoGLENN BECK | EXPLAINED: A possible banking CRISIS & what YOU should do
46