Dow Jones Rallies 300 Points On Silicon Valley Bank Purchase; First Republic Soars 31%

The Dow Jones rose 250 points Monday, as First Citizens bought FDIC-controlled Silicon Valley Bank. First Republic Bank soared 30% Read More...


Dollar steady, yen falls as banking fears ease

The dollar was steady on Monday, while the yen slipped from its seven-week peak, as investors assessed moves made by authorities and regulators to rein in worries over the global banking system. The dollar index, which measures the currency against six rivals, rose 0.1% at 103.09, having gained 0.5% on Friday amid worries in the European banking sector. Global banking stocks have been battered this month following the sudden collapse of two U.S. lenders and the rescue of Credit Suisse, with authorities stepping in to ease investor nerves.

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