SVB shockwaves rattle global banks in grip of contagion fears | The World

The effects of the Silicon Valley Bank collapse continue to be felt around the world. Norway’s Sovereign Wealth Fund and Sweden’s largest pension fund have revealed they both held stakes worth hundreds of millions of dollars in SVB. Shares in investment bank Credit Suisse have plummeted after “material weaknesses” were found in the company’s financial reporting. Danni Hewson, the head of financial analysis at AJ Bell, tells The World investors remain spooked.

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