Global Banks Lose $459 Billion in Market Value

The value of the shares of the largest banks in the US, Europe and Japan has fallen by an average of 16% ($459 billion) since the beginning of March due to the bankruptcy of the American Silicon Valley bank and the problems of the Swiss Credit Suisse.

The estimates were released on Friday by the Financial Times on its website, noting that this is the biggest drop since March 2020.

The newspaper points out that attempts to achieve stability on the part of regulators can only be assessed as partially successful so far, as shares of the American First Republic Bank and Swiss Credit Suisse, which are on the verge of collapse, continued to decline on Friday. , despite receiving $30.1 billion and $54 billion in emergency loans, respectively.

The newspaper’s sources also indicate that due to the current situation, American Goldman Sachs lost about $200 million in securities trading, and the bank did not comment on this information.

Source: TASS

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