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An illustrative stock chart and Credit Suisse logo displayed on a phone screen.

Jakub Porzycki via Reuters Connect

Europe now feels the US financial panic

It's been hell week for banks on either side of the Atlantic. Days after the collapse of Silicon Valley Bank and Signature Bank sent shockwaves through the US financial system, now Credit Suisse, a major European bank, is in serious trouble.

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The Federal Reserve building is pictured in Washington, U.S.

REUTERS/Leah Millis/File Photo

SVB collapse & interest rates: What’ll the Fed do?

US markets rebounded Tuesday, temporarily calming fears that the collapse of Silicon Valley Bank might trigger a domino effect that makes both investors and ordinary Americans lose confidence in the banking system. But the uncertainty ain’t over yet.

With the stakes so high, who you gonna call? No, not those guys. We mean the Federal Reserve.

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U.S. President Joe Biden delivers remarks after the collapse of Silicon Valley Bank (SVB) and Signature Bank in Washington, D.C., March 13, 2023.

REUTERS/Evelyn Hockstein

SVB collapse: Don’t say the B-word

US President Joe Biden on Monday addressed the nation to assure Americans that, whatever the fallout from the collapse of Silicon Valley Bank, their deposits and the entire banking industry are both "safe."

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Silicon Valley Bank logo seen through broken glass.

REUTERS/Dado Ruvic

Yellen brings bazooka to stop SVB contagion

The US government on Sunday night announced measures to stop the collapse of Silicon Valley Bank from leaving 97% of its depositors holding the bag — and to avert another financial crisis (without spending taxpayer money).

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