New fears of banking contagion are triggered by crisis that killed Silicon Valley Bank, as billionaire economist Bill Ackman demands Biden 'guarantee
Hedge fund boss Bill Ackman today warned the 'economy will not function' unless Joe Biden 'guarantees all deposits now' as the crisis hit the Big Four banks
At least 20 regional banks were hit with trading halts today as turmoil sparked by Silicon Valley Bank's collapse gripped Wall Street.
Hedge fund boss Bill Ackman warned the 'economy will not function' unless Joe Biden 'guarantees all deposits now' as the contagion spread to the Big Four trillion-dollar US banks. Citigroup's share price dived 7.45 percent, Wells Fargo sank 7.1 percent, Bank of America plunged 5.8 percent and JP Morgan fell 1.8 percent. ---More...
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