Silicon Valley Bank Crisis: Why America’s banks are drowning? What will be its impact on India – silicon valley bank crisis why us banks are collapsing
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Index at five month low
Due to the lock on two banks of America, the domestic market is also being affected. On Monday, both the major indices closed down for the third day in a row. The Sensex closed at a five-month low of 58,237.85 points, down 897.28 points. Of the 30 Sensex stocks, 29 were in the red. Among its shares, IndusInd Bank’s share was the most broken by more than seven per cent. With this, the Nifty also fell and closed at a five-month low. 45 out of 50 Nifty stocks were in the red. Investors have lost over Rs 7.3 lakh crore in the last three trading sessions. Sensex has slipped 2110 points.
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global market decline
According to experts, the sinking of two major American banks has caused a huge decline in the global market. In this, especially the decision made in the next meeting of the US Central Bank Federal Reserve will have a significant impact on the market sell-off. According to a report, Finance Ministry officials were reported as saying that its impact would be limited in India. This will affect only a few tech startups and IT firms in the country.
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