Financial markets have flip-flopped all week as a global crisis in confidence over the banking sector has led to a dramatic shift in expectations for central banks' fight against inflation, and has made a recession more likely.
Financial markets have flip-flopped all week as a global crisis in confidence over the banking sector has led to a dramatic shift in expectations for central banks' fight against inflation, and has made a recession more likely.
On Wednesday, the flames were further fanned by European lender Credit Suisse’s latest problems, and on Thursday and Friday another bank joined in on the widening crisis, with the biggest U.S. banks coming to the rescue of First Republic Bank in an effort to prevent it from joining the ranks of SVB and Signature.
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