Now let's take a look at the global stock markets. First let's start with The Asia Pacific region, where markets were in the red on Tuesday, after sharp losses were seen overnight on wall street, as investors grappled with the fallout of failed banks, including Silicon Valley Bank.
Alright here are the numbers, In Japan the nikkei 225 was down by 2,19%, Hong Kong, the hang seng index down by 2,27%, and in South Korea, The Kospi index was also down by 2,56%.
So the South Korean stock market tumbled on Tuesday, as the biggest United States bank failure in nearly 15 years continued to rattle financial markets. The Korea composite stock price index fell by 1,99%, during early morning trading.
Asian shares mostly fell the day prior, shaken by the wall street tumble that set off worries of ripple effects around the world, and the tumble was led by Japan, South Korea, and Hong Kong as investors weigh concerns over fallout out of failed banks in the US.
With that let's move on to The US, where markets closed mixed on Monday, with the tech-heavy Nasdaq composite, closing higher, as investors bet the collapse at Silicon Valley Bank could mean a pause, in future interest rate hikes, from the federal reserve. Alright now, let's take a look at the numbers.
On Monday's closing trading hours, The Dow Jones index fell by 0,3%, The S&P 500 down by 0,2%, after clawing back most of an early drop of 1,4%, and the tech-heavy Nasdaq rose by 0,4%.
So bank stocks tumbled on worries about what’s next to break, following the second, and third largest bank failures in US history. But many other stocks rose Monday, on hopes the bloodletting will force, the federal reserve to take it easier, on the hikes to interest rates, that are shaking wall street, and the economy.
Treasury yields plunged, as investors scrambled for safety and expectations built for the fed to ease up on rate hikes.
Now let's move on to Europe, where markets were cautiously higher, early Tuesday. Here are some of the market numbers in Europe, as of 9:04 a.m. London time on Tuesday.
At that time, the Germany Setra dax was up by 0,7%, while the London FTSE 100, was also down by 0,1%. European markets were mostly higher, however, the collapse of Silicon Valley Bank continues to shake global market confidence and cause ripple effects throughout the financial markets.