24 m. ago Nearly £11bn wiped off UK banks after US regional banking fears spooked markets – business live

European stock markets have fallen after two US regional lenders disclosed on Thursday that they were exposed to alleged fraud by borrowersGlobal markets fall and gold hits record high amid jitters over US banksUS regional bank stocks fall amid Wall Street concern over credit marketsStorm clouds are gathering over the financial markets, warns Richard Hunter, head of markets at interactive investor:There are increasing signs of storm clouds gathering over markets, with little relief from the building wall of worry.Already grappling with stretched stock valuations in the AI space, an unresolved government shutdown and a deteriorating relationship between Beijing and Washington, investors were exposed to a new source of concern in the form of lending practices and bad loans for US regional banks. Continue reading...

Economics

1 hour ago UK stock markets tumble and banks impacted amid concerns over US credit

Barclays, with its substantial US operations, saw its stock fall by over 6 per cent

Economics

3 h. ago FTSE 100 slides as US regional bank worries rock markets – business live

Fear index jumps, and European markets follow Asia lower, as bad loan fears hit valuationsGlobal markets fall and gold hits record high amid jitters over US banksUS regional bank stocks fall amid Wall Street concern over credit marketsStorm clouds are gathering over the financial markets, warns Richard Hunter, head of markets at interactive investor:There are increasing signs of storm clouds gathering over markets, with little relief from the building wall of worry.Already grappling with stretched stock valuations in the AI space, an unresolved government shutdown and a deteriorating relationship between Beijing and Washington, investors were exposed to a new source of concern in the form of lending practices and bad loans for US regional banks. Continue reading...

Economics

4 h. ago Global markets fall and gold hits record high amid jitters over US banks

Signs of credit stress send markets in Europe and Asia down, while investors turn to safe haven assetsBusiness live – latest updatesGlobal stock markets fell sharply and gold hit a record high after two US regional banks said they had been exposed to millions of dollars of bad loans and alleged fraud.Signs of credit stress rattled markets across Europe and Asia. In London the FTSE 100 fell 1.5%, Germany’s Dax fell 2%, the Ibex in Spain was off 0.8% and France’s Cac 40 dropped 1.5%, before recovering some ground. Continue reading...

Economics

6 h. ago UK stock markets tumble as investors ‘spooked’ by US banking issues

Shares in big global banks like Barclays and Standard Chartered were down by more than 5% on Friday morning.

Economics

7 h. ago Stock markets plunge as small US banks spook investors with bad loan losses

The FTSE 100 plunged more than 1.5 per cent on Friday morning as mounting fears over the health of regional US banks sparked a sell-off across global stock markets.

Economics

8 h. ago FTSE 100 heading for worst day since April as US regional bank worries rock markets – business live

Rolling coverage of the latest economic and financial news, as FTSE 100 share index sheds 150 points in early tradingUS regional bank stocks fall amid Wall Street concern over credit marketsStorm clouds are gathering over the financial markets, warns Richard Hunter, head of markets at interactive investor:There are increasing signs of storm clouds gathering over markets, with little relief from the building wall of worry.Already grappling with stretched stock valuations in the AI space, an unresolved government shutdown and a deteriorating relationship between Beijing and Washington, investors were exposed to a new source of concern in the form of lending practices and bad loans for US regional banks. Continue reading...

Economics

9 h. ago FTSE 100 Live 17 October: Banks drive big index fall, gold continues record run

The FTSE 100 index has fallen by more than 1% as London traders track Wall Street weakness and selling in Asia.

Politics

9 h. ago Stock markets hit by US regional bank worries and trade tensions – business live

Rolling coverage of the latest economic and financial newsFears are swirling today that we could be facing a repeat of the US regional banking crisis of 2023.That episode led to the demise of US bank SVB and then Europe’s Credit Suisse.An initially positive risk mood turned during the US session yesterday after news that Zions Bancorp (-13.14%) made a $50m charge-off while Western Alliance (-10.81%) alleged it also suffered from fraud on loans to the same borrowers linked to distressed commercial mortgages.While this was an ostensibly isolated story at two banks each less than $10bn market cap, the event drew inevitable comparisons to the regional bank stress that followed the collapse of SVB in March 2023 and raised broader questions over potential credit quality issues after a lengthy period of elevated rates and expansion in private credit, following also the bankruptcy of subprime auto lender Tricolor last month. Continue reading...

Economics

29 h. ago POLL OF THE DAY: Is the world heading for a catastrophic stock market crash?

Do you think the world is heading for a catastrophic stock market crash similar to what it saw 25 years ago?

Events

31 h. ago FTSE 100 Live 16 October: Premier Inn owner Whitbread falters on results, UK economy struggles

The UK economy remains in the slow lane after figures today showed August GDP advanced by just 0.1%.

Politics

32 h. ago FTSE 100 Live 16 October: UK economy in slow lane, Whitbread shares fall on results

The UK economy remains in the slow lane after figures today showed August GDP advanced by just 0.1%.

Events

33 h. ago FTSE 100 Live 16 October: GDP edges higher after July fall, Whitbread posts results

The UK economy remains in the slow lane after figures today showed August GDP advanced by just 0.1%.

Events

49 h. ago The last time we faced a catastrophic stock market crash, I protected my assets with this strategy. This is exactly what I did

With every day that passes, fears of a steep global stock market correction (crash) accentuate.

Events

54 h. ago Cash Isa allowance could be HALVED to just £10,000 in Rachel Reeves' Budget

The Chancellor wants to encourage savers to divert billions of pounds of cash savings into the stock market and boost Britain's flagging economy.

Economics

55 h. ago FTSE 100 Live 15 October: Burberry shares get LVMH lift, Capita fined for data breach

Royal Mail has been fined £21 million for missing its annual first and second class mail delivery targets.

Politics

55 h. ago FTSE 100 Live 15 October: Burberry shares get LVMH lift, Royal Mail fined

Royal Mail has been fined £21 million for missing its annual first and second class mail delivery targets.

Politics

57 h. ago FTSE 100 Live 15 October: Burberry shares surge, CMA targets excessive vet bills

Royal Mail has been fined £21 million for missing its annual first and second class mail delivery targets.

Events

57 h. ago FTSE 100 Live 15 October: Index seen higher as gold run continues, Royal Mail and Capita fined

Royal Mail has been fined £21 million for missing its annual first and second class mail delivery targets.

Politics

3 d. ago FTSE 100 Live 14 October: Jobless rate rises, easyJet leads index as builders rally

Unemployment has risen to its highest level since the pandemic with more than 1.7 million people looking for work.

Society