The global banking industry crisis

The world that runs on money, banks are the engines that power the economy forward. When they fail, the whole financial system can come to a halt. No matter what the Fed chooses, the common man is going to feel the pinch in their pockets.

Experts predict Indian markets will be range-bound but don't rule out the possibility of a 15% fall in the event of a global selloff. It is advised to stick to domestics now, in what appears to be a “stock-picker’s” market.

After three major US banks failed- Silvergate bank, Silicon Valley Bank and Signature Bank. One had to be rescued by the First Republic. This ultimately led to the fall of Credit Suisse, one of the world's biggest banks. It ultimately had to merge with UBS. When banks fail, the economy is always in trouble. It is a warning sign of the impact of the US banking crisis on the economy.

Silvergate Bank is a publicly traded bank based in California that primarily serves the digital currency industry. The bank has been involved in providing services to cryptocurrency companies and investors which has led to its growth in recent years. However with any financial institution, there are always potential risks and challenges that could arise.

Today's Headline in NewsHours
0:00 Intro
2:50 #Mozilla to invest $30 million to create AI Company
3:20 Samsung Galaxy M54 comes with new eSIM support
3:50 #Google users unable to access Gmail, Google Workspace
4:26 Up to 4 devices can be linked to WhatsApp at a same time
4:53 NASA and ISRO together manufactured earth science satellite, NISAR


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