World markets were mixed Wednesday after Asian stocks rebounded while Europe opened lower and Wall Street futures declined.
London and Frankfurt declined. Shanghai and Tokyo closed higher. Oil prices rose by US$1 per barrel, recovering some of the previous day's losses.
"Measures of stress in financial markets have eased back from their spike on Monday -- but remain elevated," said ING economists in a report. Those jitters were overshadowed by anxiety about the U.S. financial system following the collapse of Silicon Valley Bank on Friday and Signature Bank on Sunday. President Joe Biden and regulators have tried to assure the public that risks are contained and deposits in other banks are safe.
In Asia, the Shanghai Composite Index rose 0.6% to 3,253.31 after Chinese economic activity improved in January and February but less than expected following the end of anti-virus controls. On Wall Street, First Republic Bank jumped 27% on Tuesday after plunging 67.5% over the prior three days. KeyCorp gained 6.9%, Zions Bancorp. rose 4.5% and Charles Schwab climbed 9.2%.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Global bank stock rout deepens as SVB collapse fans crisis fearsShockwaves from the collapse of Silicon Valley Bank pounded global bank stocks further on Tuesday as assurances from President Joe Biden and other policymakers…
Read more »
Quinte Museum of Natural History re-opening WednesdayThe whales are coming to the Quinte Museum of Natural History. After it's extremely popular opening exhibit la...
Read more »
China to reopen borders to tourists, resume issuing all visas Wednesday as COVID-19 curbs easeThe moves by China come as it tries to revive tourism and its economy after a three-year halt during the COVID-19 pandemic
Read more »
China to reopen to tourists, resume all visas WednesdayChina will reopen its borders to tourists and resume issuing all visas Wednesday as it tries to revive tourism and its economy following a three-year halt during the COVID-19 pandemic.
Read more »
Province to present findings of Chestermere city hall investigation on Wednesday nightThe city has disavowed the draft report, making claims of bias, procedural issues and a lack of evidence.
Read more »
5 things to know for Wednesday, March 15, 2023A woman is charged with defrauding and harassing Ontario doulas, 17 wild horses are shot dead in British Columbia, and a look at the risk of a bank failure in Canada. Here's what you need to know to start your day.
Read more »