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The Washington Post: After SVB Collapse, Bank Stocks Slide Despite Government Intervention

The Washington Post, March 13, 2023, After SVB Collapse, Bank Stocks Slide Despite Government Intervention

Wall Street pummeled the banking sector on Monday as fear and uncertainty following the abrupt closure of two tech-focused banks rippled through the financial system.

Stock exchanges halted trading in several large regional banks after their rapid descent exceeded regulatory volatility limits. Charles Schwab saw its stock price end the day down 11.6 percent, even though executives emphasized it has no direct business relationship with Silicon Valley Bank or Signature Bank, both of which shuttered in recent days.

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