Instant View: Bank stocks tank, markets rethink rate-hike path

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Reuters UK

(Reuters) – Global bank shares slid on Monday even as U.S. authorities moved swiftly to stem contagion following the collapse of startup-focused Silicon Valley Bank. HSBC bought the UK arm of stricken SVB for a symbolic one pound, rescuing a key lender for technology start-ups in Britain and helping curb the fallout from the biggest bank collapse since the financial crash. Still, the measures to stem the fallout appeared to have done little to soothe investor concerns about the wider impact on financial markets. Yields on safe-haven government bonds such as U.S. Treasuries and German Bunds fel…

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