Yellen's Impact on Banking Industry and Markets
TL;DR Summary
US Treasury Secretary Janet Yellen said the federal government is prepared to take emergency actions at banks "to prevent contagion," just as it did for Silicon Valley Bank and Signature Bank. European markets closed lower, dragged down by the banking sector. Hindenburg Research, the short seller behind the attack on Indian conglomerate Adani Group, has a new target: Jack Dorsey's Block. The Bank of England hiked interest rates by 25 basis points to 4.25%, while the Swiss National Bank raised rates by 50 basis points to 1.5%. Bitcoin is now at $28,300.74, levels not seen since June.
- CNBC Daily Open: Yellen changed the mood — again CNBC
- Opinion | Janet Yellen's Blurred Lines on Bank Depositors The Wall Street Journal
- News updates from March 23: Hindenburg launches attack on Jack Dorsey's payments group Block, BoE raises rates Financial Times
- Yellen says Treasury is ready to take 'additional actions if warranted' to stabilize banks CNBC
- Janet Yellen Changing Bank Statement Raises Eyebrows Newsweek
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