The Latest Breaking News from Silicon Valley Bank

New York (AFP) - Banks were among the poorest-performing sectors on Wall Street Thursday, after earnings from midsized lenders pointed to a weakening profit outlook in the aftermath of a recent industry crisis.

Oaktree Capital Management’s Howard Marks says “the similarities between 2008 and 2023 are limited” and he isn’t worried about systemic risk.

Like many of the biggest banks in the U.S., Minneapolis-based U.S. Bancorp posted solid first-quarter results from recent months despite two high-profile bank failures and related fallout in the banking industry.

Traders are betting on another round of Fed rate hikes. Investors aren't so convinced.

The abrupt failures of Silicon Valley Bank and Signature Bank and subsequent concerns about the stability of other banks have reignited a fierce debate among lawmakers, the financial industry, the Biden administration and former government officials about an array of banking reforms and regulatory changes.

For most people — from casual observers to financial market news junkies — the recent demise of a duo of regional U.S. banks has been a shock. Concerned citizens have wondered aloud.

A credit crunch might be on its way.

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When Interior Define began a liquidation process in late December, the Chicago-based custom furniture retailer left thousands of customers with unfulfilled orders and little hope of recovering their money.

The nation’s largest banks appear to be weathering the current turmoil in their industry just fine

JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. are reeling in windfalls from higher interest rates that upended smaller lenders last month.