Wall Street stocks have fallen, dragged down by banks. The S&P 500 financial sector index has lost 2.2 per cent while the KBW regional banking index has tumbled 3.8 per cent, the media reported.
The Dow Jones has shed 254 points to 31,992, a 0.8 per cent drop while the S&P 500 is down nearly 20 points, or 0.5 per cent, at 3,942, and the Nasdaq is flat at 11,709, The Guardian reported.
Among big US banks, Goldman Sachs is down 1.9 per cent, Citigroup has lost 2.4 per cent and Wells Fargo is 2.7 per cent lower as fears of a full-blown banking crisis intensified, after SVB's parent filed for bankruptcy, The Guardian reported.
Shares in First Republic tumbled nearly 21 per cent in early trading, despite Thursday's $30 billion lifeline from major banks including JPMorgan Chase, whose shares have fallen 2.8 per cent so far on Friday, and Morgan Stanley (shares down 1.7 per cent).
The FTSE 100 in London is trading 56 points, or 0.8 per cent, lower at 7,353 while Germany's Dax has lost nearly 200 points, or 1.3 per cent, and the French market is down more than 100 points, or 1.45 per cent. The Italian borsa has slid 335 points, or 1.3 per cent.
Credit Suisse shares are now trading 9 per cent lower at 1.83 Swiss francs, after falling to 1.76 earlier. The Euro Stoxx Bank index has slid 2.2 per cent, The Guardian reported.
In the US, SVB Financial Group has filed for a court-supervised re-organisation under Chapter 11 bankruptcy protection to seek buyers for its assets, a week after its former division Silicon Valley Bank was taken over by US regulators.
The move comes after the company said on Monday that it planned to explore strategic alternatives for its businesses. SVB Securities and SVB Capital's funds and general partner entities are not included in the Chapter 11 filing and the firm said it planned to push on with the process to evaluate alternatives for the businesses.
Banking shares fell more than 1.5 per cent in pre-market trading. Regional banks were hardest hit, with PacWest Bancorp and First Republic plunging between 10 per cent and 20 per cent, The Guardian reported.
Tripura BJP to Focus on Organisational Strength Ahead of Upcoming Polls
BJP state president Abhishek Debroy has said that strengthening the party organisation at every level will remain the BJP's top priority as it prepares for the upcoming electoral battles in the state.
Governor Urges Mass Participation in Anti-Drug Drive at Tripura University
Calling drug addiction one of the most serious challenges confronting society, Governor Indra Sena Reddy Nallu urged citizens to join hands in the fight against narcotics, stressing that a drug-free society can only be achieved through collective public participation.
IGP holds review meeting in Gomati, stresses on intelligence-based policing
Tripura Police’s Inspector General of Police (IGP), Law and Order Branch, Manchak Eppar, IPS, visited the Gomati District Police Headquarters to assess the district’s law and order situation, crime prevention strategies and the overall progress of policing activities.
Stolen auto recovered from in Bishramganj, police launch probe
Bishramganj Police have recovered a stolen CNG auto-rickshaw from a rubber plantation near the new petrol pump area along the National Highway late Saturday night.
Auto Drivers Protest Traffic Enforcement in Kamalasagar
Tension briefly flared in the Lembutuli area of Kamalasagar on Sunday after an enforcement drive against the use of black window films (sun-control films) on vehicles led to a confrontation between Bishalgarh Police and auto-rickshaw drivers.
Garbage dumping row triggers protest in Kamalpur
Alleged dumping of garbage into a privately owned pond in Rishipara under Ward No. 2 of the Kamalpur Nagar Panchayat in Dhalai district has sparked outrage among local residents, who have demanded immediate intervention by the administration to address the growing environmental and public health concerns.
Police personnel accused of performing duty under influence of alcohol at Mata Bari; Probe Demanded
Allegations that a police personnel was performing duty under the influence of alcohol at the revered Mata Tripura Sundari Temple in Udaipur, Gomati district, have triggered widespread concern, with the incident drawing significant attention on social media.
Woman dies, minor injured after car crashes into house in South
A 45-year-old woman lost her life and a 10-year-old girl was injured after a WagonR car allegedly went out of control and hit them near Kalachhara Railway Station in South Tripura district on Sunday morning.