Bank shares plunge on contagion fears; precious metals rally

Published by
Reuters UK

By Chris Prentice and Nell Mackenzie NEW YORK/LONDON (Reuters) – Global bank shares and short-dated U.S. Treasury yields plunged on Monday as concerns over fallout from the collapse of Silicon Valley Bank lingered despite action from regulators. The U.S. dollar also fell. Gold and silver prices rallied on safe-haven buying. [GOL/] Bond markets saw a repricing of rate hike bets, with rising expectations for a pause in rate hikes or a lower rate hike pulling Wall Street shares back from earlier losses. The Dow Jones Industrial Average gained 139.65 points, or 0.44%, to 32,049.29, the climbed 24….

Read More