Crypto firm Circle reveals $3.3 billion exposure to Silicon Valley Bank
Traders have been watching this week for signs of contagion in the financial sector from developments surrounding startup-focused Silicon Valley Bank and Silvergate.
Indonesia’s Merapi volcano erupts, spews hot cloud
Merapi last violently erupted in 2010, leading to more than 350 casualties.
Li Qiang becomes China’s premier, tasked with reviving economy
He is the first premier since the founding of the People’s Republic who has never previously held a position in the central government.
A major inflation report and fallout from Silicon Valley Bank hang over markets in week ahead
February’s consumer inflation report should be a big driver for markets in the week ahead, as investors watch for continued Silicon Valley Bank fallout.
Companies scramble to meet payroll, pay bills after SVB’s swift failure
Tech companies that banked at SVB are wondering when they’re going to be able to pay employees and their bills after Friday’s collapse.
Here’s how the second-biggest bank collapse in U.S. history happened in just 48 hours
As dust begins to settle on the biggest American bank failure since 2008, members of the VC community lament the role other investors played in SVB’s demise.
Wage growth is cooling — but workers still have bargaining power, economists say
The Federal Reserve is trying to rein in historically high wage growth to tame inflation. Overall, the job market remains hot for workers, economists said.
Crypto bank Signature slides on Friday amid troubles at Silicon Valley Bank, Silvergate
Signature Bank shares dropped as much as 32% on Friday and were halted amid a sell-off in bank stocks that continued for a second day.
Fintech startup Brex got billions of dollars in Silicon Valley Bank deposits Thursday, source says
Companies including JPMorgan Chase, Morgan Stanley and First Republic have also seen heightened inflows Thursday as SVB’s stock tanked.
Just like that: Market pricing swings back to quarter-point Fed rate hike
One bank implosion and a cooperative jobs report later, and the market has changed its mind.
