Silicon Valley Bank collapse: US banking stocks recover as President Biden vows to protect the banking system
The US Department of Justice is set to open an investigation into the collapse of Silicon Valley Bank after President Joe Biden promised to do 鈥渨hatever is needed鈥� to protect the banking system.
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US banking stocks recovered some of their losses in early trading after also $190bn had been wiped off their value since SVB became insolvent last Friday.