U.S. bank stocks fall further as regulators shutter SVB Financial

By Noel Randewich and Caroline Valetkevitch (Reuters) -Shares of U.S. banks extended recent losses on Friday, with regional banks hit hardest, as SVB Financial Group’s failure reverberated across the financial industry. A California banking regulator closed SVB, putting the tech-heavy lender into receivership in the largest bank failure since the 2008 financial crisis. The state…

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Investor dash for cash pumps U.S. money market funds to record high – BofA

LONDON (Reuters) -Assets invested in U.S. money market funds have reached a new all-time high of $4.9 trillion this year, as soaring short-term interest rates have sent investors rushing into cash, BofA Global Research said on Friday. Money market funds invest in highly liquid near-term instruments such as cash and short term debt securities. So…

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Global equity funds draw first weekly inflow in four weeks – Refinitiv data

(Reuters) – Global equity funds drew their first weekly inflow in four weeks in the seven days to March 8 after strong consumption boosted the service sector in some major economies, easing worries over a recession. Still, expectations for further rate hikes by the Federal Reserve to curb inflation capped inflows. Data from Refinitiv Lipper…

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US digital asset fund, venture capital firm to raise $100 million for two new blockchain funds

NEW YORK (Reuters) – Alpha Sigma Capital, a U.S.-based digital asset fund, and Transform Ventures, a venture capital firm, will raise $100 million for two new funds focused on the blockchain and so-called decentralized Web 3.0 ventures, Alpha Sigma founder and Chief Executive Officer Enzo Villani said on Wednesday. Transform Ventures, founded by crypto investor…

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