The fallout from Silicon Valley Bank’s collapse has led to a continent-wide selloff in financial stocks erasing $19.7 billion in value from Canada’s top banks in the last four days.
Some of the nation’s biggest banks, including Bank of Nova Scotia, Bank of Montreal and Toronto-Dominion Bank fell more than 2 per cent on Friday. With banking equities far and away the largest sector by weighting of the S&P/Toronto Stock Exchange Composite Index, Canada’s main stock benchmark slumped more than the S&P 500 as the biggest U.S. bank failure in more than a decade roils the market.
“Liquidity positions across the Canadian banks are strong,” CIBC Capital Markets analyst Paul Holden wrote in a note defending Canada’s financial sector. There could be other consequences though. TD is the largest shareholder in Charles Schwab. The Texas-based brokerage is on track for its worst two-day drop in years.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Inside a $19 million Vancouver condo: Coal Harbour penthouse sets decade-old price recordA 6,500\u002Dsquare\u002Dfoot penthouse at Fairmont Pacific Rim has sold for $19.3 million, the most expensive condo sale on MLS in almost a decade.
Lire la suite »
Inside a $19 million Vancouver condo: Coal Harbour penthouse sets decade-old price recordCheck out what $19 million can get you in Vancouver
Lire la suite »
Crypto VCs ask portfolios to pull funds from Silicon Valley BankCrypto-focused venture capital investors have advised their portfolio companies to withdraw funds from Silicon Valley Bank. SVB Financial Group, the parent company of Silicon Valley Bank, lost more than 60% of its value on 9 March. Crypto-focused venture capital investors have advised their portfolio companies to withdraw funds from Silicon Valley Bank, which is struggling […]
Lire la suite »
SVB Financial CEO asks Silicon Valley Bank clients to 'stay calm' as shares sink - BNN BloombergUnease is spreading across the financial world as concerns about the stability of Silicon Valley Bank prompt prominent venture capitalists including Peter Thiel’s Founders Fund to advise startups to withdraw their money.
Lire la suite »
Silicon Valley Bank fails, shut down by California regulatorA California regulator shut Silicon Valley Bank on Friday and appointed the Federal Deposit Insurance Corporation as receiver. Read more.
Lire la suite »
Banking dominos continue to fall as Silicon Valley Bank is seizedFollowing the demise of Silvergate Bank, Silicon Valley Bank now finds itself on the ropes as a 2008-style banking collapse may be starting to accelerate.
Lire la suite »