Global markets are focused on the bank crisis in the USA.
Wall Street Stocks are rising in futures after the US Treasury Department, Fed and FDIC stepped in on banks. The S&P 500 futures index is up 1.65 percent and the Nasdaq 100 futures index is up 1.74 percent. The Nasdaq 100 fell 1.45 percent and 1.38 percent, respectively, on the last trading day of last week. Weekly losses of indices were also 4.55 percent and 3.75 percent, respectively.
Bloomberg Dollar Index, which rose 0.53 percent last week, fell 0.83 percent to 1,243 points. Stock indices in Asia are mixed. Japan’s Nikkei 225 financial sector shares fell.
Silicon Valley Bank (SVB), a US tech-oriented banking service provider, became the first bank in the country to go bankrupt in more than 10 years after attempts to raise capital failed and depositors withdrew their money.
