Bank stocks plunge resumes as SVB market turmoil continues

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By Alun John and Rae Wee LONDON/SINGAPORE (Reuters) – Global banking shares plunged on Monday as moves by the United States to guarantee deposits at collapsed tech-focused lender Silicon Valley Bank failed to reassure investors that other banks remain financially sound. Europe’s STOXX banking index fell 5.8%, having shed 3.78% on Friday, leaving it on track for its biggest two-day fall since March 2022, soon after Russia invaded Ukraine. Commerzbank AG fell as much as 12.7%, while Credit Suisse Group AG briefly hit a new record low after falling more than 15%. U.S. banks also declined in pre-m…

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