Banking stocks drove European markets lower on Monday as global investors weighed the consequences of the collapse of Silicon Valley Bank (SVB). The US lender imploded last week and had its assets seized after a bank run caused its stock to plummet.
The pan-European Stoxx 600 index dropped 2.56% at 13:00 GMT, with all major stocks trading in the red. Bank stocks slumped more than 6%, with Commerzbank, BAWAG Group, and Banco BPM among the biggest losers. Credit Suisse plunged 15% in early trading and UniCredit lost 9%, while Deutsche Bank and Raiffeisen Bank both declined by 7%.
The meltdown came despite the news that Britain’s HSBC, which is one of the world’s biggest banks and boasts $2.9 trillion in assets, has agreed to rescue the UK branch of SVB for a symbolic £1, vowing to protect client deposits as part of the deal. Following the announcement, HSBC saw its shares drop 3.5%.
“We’re seeing a liquidity withdrawal – the classic thing that you’d expect following a credit event like what’s happening at SVB. People get scared, reduce exposure to equities and move into government bonds,” Haig Bathgate, head of investments at Atomos, told Bloomberg.
https://www.rt.com/business/572907-us-banking-crisis-european-stocks/
In a development that has sent shockwaves through the global military community, Iranian armed forces on Thursday successfully targeted a US Air Force F-35 Lightning II, one of the world's most advanced stealth fighter jets.
It marks a potential turning point in modern aerial warfare and has sparked intense debate about the viability of stealth technology against determined, innovative opponents.
According to military pundits, it’s the first time ever that an F-35 jet has been struck.
The first reports emerged from an open source account, which said an F-35A/B Lightning II had “made an emergency landing” after being hit by an Iranian surface-to-air fire.
“We are aware of reports that a U.S. F-35 aircraft conducted an emergency landing at a regional U.S airbase after flying a combat mission over Iran,” Navy Capt. Tim Hawkins of CENTCOM later said in a statement to Military Times.
Social media has been abuzz with reactions to the major development, which has shaken the ...
Iran has obtained authentic information indicating that the United States and Israeli regime seek to announce a temporary ceasefire in the war with Iran in order to buy time, a report says.
Iran's Jamaran news website reported on Friday that the US-Israeli intention for a one- or two-day ceasefire aims to complete a plan to launch an attack on the southern parts of Iran.
“However, Iran has maintained almost complete dominance over the enemy’s sky and space,” it added.
“The least stop in Iran’s effective attacks on this geography can make it possible for the enemy to reconstruct its radars and defensive [systems] in the occupied territories and US bases in the region,” the report emphasized.
According to the report, the balance of power has changed over the past 48 hours after the striking of an American F-35 stealth fighter by Iranian forces, continuation of the Strait of Hormuz closure and high oil prices.
The enemies have considered all these factors in the ceasefire ...
Iran's Foreign Minister Abbas Araghchi has warned that the Islamic Republic will show "ZERO restraint" if its infrastructure is attacked.
"We have intelligence on Israeli plans to strike infrastructure. Once again: ZERO restraint if our infrastructure is attacked," Araghchi wrote in a post on X on Friday.
"We are men and women of principles. Iranians do not sneak attack adversaries while engaged in dialogue. Only when attacked do we powerfully respond," he added.
The warning came as the US and Israel started a fresh round of aerial aggression on Iran on February 28, some eight months after they carried out unprovoked attacks on the country.
Earlier this week, the invading coalition targeted Iran's main gas field, South Pars, in a major escalation. Tehran swiftly responded by targeting Qatar's Ras ......more below
