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Wall Street pummels regional banks, despite Biden’s assurances

Originally Published: 13 MAR 23 07:43 ETUpdated: 13 MAR 23 15:28 ETBy Allison Morrow, CNN    (CNN) — Wall Street’s confidence in regional banks remained shaky Monday, despite emergency measures from the Biden administration to protect customer deposits.First Republic shares fell more than 60% and were briefly halted for volatility. Western Alliance Bancorp’s stock also fell 60%,

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Why Silicon Valley Bank collapsed and what it could mean

Originally Published: 13 MAR 23 12:45 ETBy Hanna Ziady, CNN    (CNN) — Silicon Valley Bank collapsed with astounding speed on Friday. Investors are now on edge about whether its demise could spark a broader banking meltdown.The US federal government has stepped in to guarantee customer deposits, but SVB’s downfall continues to reverberate across global financial markets.

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