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The failures of SVB, and days later, Signature Bank (OTC:SBNY), set off a broader loss of investor confidence in the banking sector that pummeled stocks and stoked fears of a full-blown financial crisis.
A deal to rescue Swiss bank Credit Suisse last week and a sale of SVB’s assets to First Citizens Bancshares this week has helped restore some calm to markets, but investors remain wary of more troubles lurking in the financial system.
