Tag: credit stress
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Global Markets Sink as US Regional Banks Face Bad Loans and Fraud Allegations; Gold Reaches Record High
Market turbulence erupts as US regional banks reveal loan losses and alleged fraud Global stock markets declined sharply while gold surged to a record high as two US regional banks disclosed significant loan losses and a fraud-related probe. The latest disclosures underscored budding credit stress that has investors bracing for possible spillovers into wider financial…
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Global Markets Slump as US Regional Banks Spark Gold Record
Global markets fall as credit stress rattles investors Global stock markets slipped sharply after two US regional lenders disclosed exposure to millions of dollars in bad loans and alleged fraud. The developments sent shockwaves through Europe and Asia, fueling a rapid shift toward safer assets and a flight to gold, which reached a new high…