European markets are heading for a higher open Tuesday even as the aftershocks from Silicon Valley Bank's collapse continue to ripple through financial markets.
South Korea's Shinhan Financial Group fell 1.53%, Woori Financial Group was lower at 2.4%, KB Financial Group fell 2.98% and Industrial Bank of Korea dropped 1.9%.The U.S. consumer price index for February isThis is just slightly lower than January's inflation data of 0.5% and 6% respectively.
CPI will be the next data point that could provide insight on the Federal Reserve's move ahead of its meeting on March 21 and 22. A hot inflation report will raise expectations the Fed could hike rates by 50 basis points, up from the 25 points it implemented in February.CNBC Pro: SVB crisis reveals how tough higher rates can be — but these 3 stocks are resilient, strategist says
Many firms will find a higher-interest-rate environment very difficult to operate in, as demonstrated by the Silicon Valley Bank crisis, said Anthony Doyle, head of investment strategy at Firetrail Investments. "There will be winners and there will be losers and part of the challenge for investors today is identifying which are those companies that will find this environment much more difficult than they have done in a zero interest rate world," he said.
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JPMorgan, PNC among suitors for SVB Financial in deal excluding SVB Bank - AxiosJPMorgan Chase & Co and PNC Financial Service Group Inc are among those in talks about acquiring SVB Financial Group in a deal that would exclude its commercial banking unit Silicon Valley Bank that is currently under U.S. control, Axios reported on Monday citing sources.
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SVB collapse: The Treasury must make whole SVB investorsThe Treasury Department is right to ensure that investors at Silicon Valley Bank have access to their deposits.
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Silicon Valley Bank collapse: How SVB stock price performed in 5 yearsSilicon Valley Bank had been rated as one of the top banks in America for five years before its closure by U.S. regulators in March 2023.
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Silicon Valley exhales after US intervenes in SVB collapseA wave of relief swept over Silicon Valley Sunday following a tense weekend of board meetings, emergency funding plans and pleas for help after regulators stepped in to backstop the region’s embattled namesake bank.
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Silicon Valley Firms Expect Changes in Financial Methods After SVB DisasterStartups and venture investors voice relief at federal decision to protect Silicon Valley Bank depositors, but see need for new banking practices
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