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The collapse of crypto bank Silvergate Capital and the drop in the share price of SVB Financial have made investors aware of the dangers such as credit defaults that may accompany the recent rise in interest rates.
At least since Fed Chairman Jerome Powell’s statements last Tuesday, interest rate concerns have again dominated market activity. Therefore, the US labor market report released on Friday is eagerly awaited. It is considered an important indicator of the state of the U.S. economy and can influence subsequent interest rate decisions.
Fifteen minutes after the stock market opened, Switzerland’s most important stock market index, the SMI, fell by around 1.2 percent to 10,818.88 points. The index has dropped to its lowest level ever this year. SLI, with 30 titles and limited to the biggest titles, is losing some more ground.
Only the price increases (+0.2%) of the two stock market heavyweights Roche and Nestlé ensure that the SMI does not fall any further. Roche had come with good news from the US FDA in the morning. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
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