LONDON/SINGAPORE—The dollar rose in somewhat calmer trading on Tuesday, after tumbling on Monday following the collapse of Silicon Valley Bank (SVB), as investors waited for the release of U.S. consumer inflation data later in the day. Tuesday’s consumer price index (CPI) figures have the potential to drive further volatility in global markets, coming a day…
Dollar Rebounds After Tumbling on SVB Collapse, With CPI Data Incoming
Oil Prices Continue Slump in Fallout From SVB Shutdown
LONDON—Oil prices dropped more than $2 a barrel on Tuesday, extending the previous day’s slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis. Brent crude futures fell $1.64, or 2 percent, to $79.13 a barrel by 1001 GMT. U.S. West Texas Intermediate crude futures (WTI)…
Shares Tumble as Stress Creeps Into Markets
March 14, 2023
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LONDON—Global shares slid on Tuesday as a brewing U.S. banking crisis prompted investors to downgrade their expectations for interest rate hikes, even ahead of key inflation data later in the day. As recently as a week ago, investors were just recovering from a reality-check that prompted many to assume that rates around the world were…
Bank Stocks Tumble; Others Rise on Hopes for Easier Rates
NEW YORK—Bank stocks tumbled Monday on worries about what’s next to break, following the second- and third-largest bank failures in U.S. history. But many other stocks rose on hopes the bloodletting will force the Federal Reserve to take it easier on the hikes to interest rates that are shaking Wall Street and the economy. The…
Morgan Stanley Warns Investors to Sell Stock Rebounds That May Follow Government Intervention in SVB Collapse
March 13, 2023
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Morgan Stanley’s top investment officer is advising investors to sell any rebounds in stock prices that may follow regulatory support measures after the collapse of Silicon Valley Bank (SVB) last week. “We suggest selling any bounces on a government intervention to quell the immediate liquidity crisis at SVB and other institutions until we make new…
Credit Suisse Shares Hit New Low
March 13, 2023
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ZURICH—Credit Suisse shares hit a new record low in morning trading on Switzerland’s stock exchange. Bank shares in Europe and Asia plunged on Monday as the collapse of startup-focused Silicon Valley Bank continued to batter markets, while U.S. large banks failed to hold onto a brief premarket rally after authorities moved to stem the contagion….
Dollar Drops as Fed Rate Hike Expectations Trimmed on SVB Collapse
SINGAPORE/LONDON—The U.S. dollar fell on Monday on expectations the Federal Reserve will be less aggressive in raising interest rates after authorities stepped in to limit the fallout from the sudden collapse of Silicon Valley Bank. The U.S. government announced several measures early in the Asian trading day, saying all SVB customers will have access to…
Crude Oil Prices Slide $4 as Banking Fears Rattle Markets
March 13, 2023
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LONDON—Oil prices fell $4 on Monday along with equities as the collapse of Silicon Valley Bank raised fears of a fresh financial crisis, but a recovery in Chinese demand provided support. Brent crude futures were down $3.96, or 4.8 percent, to $78.82 per barrel by 1220 GMT. West Texas Intermediate U.S. crude futures (WTI) fell…
Europe’s Bank Shares Plunge, Bonds Rally Despite SVB Rescue Effort
March 13, 2023
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LONDON, SYDNEY—Europe’s bank shares suffered their biggest fall in over a year and bond markets saw a gigantic repricing of rate hike bets on Monday as global efforts to limit the fallout from the collapse of Silicon Valley Bank (SVB) failed to ease fears. The dollar slid too as Wall Street heavyweights such as Goldman…
Energy Stocks Should Pump out More Gains
By Kim Clark From Kiplinger’s Personal Finance The gusher of rising energy stock prices, which has sent the sector up 66 percent in 2022 on top of 55 percent in 2021, may finally be calming a little. But there’s still plenty of oomph left for volatility-tolerant investors to reap rich profits in energy stocks in…
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