Russia's banking system is largely shielded from the negative effects of the U.S. crisis due to the country's limited connections with the international financial system, says Russian press secretary.
U.S. stocks plummeted Wednesday morning after bank concerns reached European markets, while investors are warning that the banking situation could worsen after the closures of Silicon Valley Bank and Signature Bank over the weekend.
Joe Biden has issued an executive order aimed at tightening gun control measures, including strengthening background checks, increasing accountability for "rogue" gun dealers, and promoting safe storage of firearms.
The consumer price index, a key measure of inflation, rose 0.4% in February, up 6% from February 2022, the U.S. Bureau of Labor Statistics reported on Tuesday.
CNBC analyst Jim Cramer is once again being pilloried on social media after a clip resurfaced showing the “Mad Money” host recommending viewers buy shares of Silicon Valley Bank’s parent company, which owns the tech-driven commercial lender that swiftly collapsed on Friday.
New York-based Signature Bank, with $110.36 billion in assets, has become the third largest bank failure in US history, following the recent collapse of Silicon Valley Bank, but depositors of both banks will be made whole and no losses will be borne by the taxpayer.
HSBC has agreed to acquire the UK arm of Silicon Valley Bank for a nominal fee of £1, following the collapse of the bank due to its specialization in lending to technology companies.
