Japanese banks slide as SVB contagion fear rattles markets

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SINGAPORE (Reuters) – Asia’s share markets slid on Tuesday, with Japan’s financial stocks leading losses as fear of a U.S. banking crisis gripped investors ahead of crucial inflation data due later in the day. Fallout from the collapse of U.S. lenders Silicon Valley Bank and Signature Bank widened overnight, despite government efforts to shore up confidence. Heavy selling hit U.S. regional bank stocks and traders raced headlong from bets on U.S. rate hikes, reckoning the Fed would now be thinking twice. Two-year Treasuries had their biggest rally since 1987, and U.S. interest rate futures soar…

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