Royal Bank of Canada $RY stock broke below its 200 day moving average on March 10, 2023, after a WedgeThe wedge chart pattern is a technical analysis tool used by traders to identify potential buying or selling opportunities. It consists of three converging trend lines, which meet ... breakdown back on March 1, 2023.
The suspension of Silicon Valley Bank’s (SVB) share trading on March 10, 2023, sparked a selling frenzy throughout the financial sector. SVB Financial was shut down by regulators after it failed to find a buyer and suffered a significant loss of client money.
Even though the majority of SVB’s funding comes from tech startups, other banks with sizable bond portfolios might run into problems if they had to sell their bonds before they mature in order to raise money.