Most Asian markets fell on Monday as the closure of two regional US banks sparked fears of contagion in the financial sector, even as officials promised to support customers. The collapse on Friday of Silicon Valley Bank, which specialises in venture-capital financing largely in the tech sector, came after a huge run on deposits left it unable to stay afloat on its own.

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Nepra slashes power tariff for Karachi consumers by Rs7.43

The National Electric Power Regulatory Authority (Nepra) held a hearing on Tuesday…

PIA gets operating licence for two more stations in China

Beijing: It emerged that the Pakistan International Airlines (PIA) had been granted…

Pakistan faces default risk without IMF loan: Moody’s

Moody’s Investor Service warned that without an International Monetary Fund (IMF) program…