From Business Insider:
Wall Street's 4 top banks just had $55 billion wiped off their market value in a single day
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- Four of America's biggest banks lost a combined $55 billion of market value in a single day as financial stocks plunged.
- US bank shares took a beating Thursday amid fears of contagion effects from the turmoil at Silicon Valley Bank and Silvergate.
- JPMorgan saw the biggest tumble in market value among US lenders, losing $22 billion.
They also mention Silvergate Capital which is a crypto-based lender:
Meanwhile, crypto-focused lender Silvergate said it will write off its assets and close down Wednesday, only days after flagging doubts about its survival.
A bit of reality for crypto. Time for a market correction there.
Time to invest in something stable - like tulips.
*Resident Biden's economic policies coming home to roost.
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