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Your email address will not be published.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

SBP raises basic points by 25

On Monday, SBP has announced a raise in basic points by 25…

Pakistan records 59pc drop in FDI

Karachi: The State Bank of Pakistan (SBP) data showed that the Foreign…

Russia says can send natural gas to Pakistan ‘in long term’

Moscow: Russian Deputy Prime Minister Alexander Novak said that Moscow is ready…