![]() It’s been a relatively calm start to the week, with investors seemingly relieved that the weekend brought no fresh turmoil in the banking sector. It shows that authorities in the US can move quickly to deal with the fallout from the turbulence in the banking sector, as we saw last week with Credit Suisse.Ĭraig Erlam, senior market analyst at OANDA, says: The S&P 500 index has opened up 24 points, or 0.6%, at 3,995 points, while the Dow Jones industrial average gained 253 points or 0.8% to 32,490.įirst Citizens’ move to take over most of SVB, announced early this morning, is calming nerves about stresses in the banking system. The US stock market has opened higher, as investors are cheered by First Citizen’s acquisition of Silicon Valley Bank’s deposits and loans. The trading floor of the New York Stock Exchange. ![]()
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