European stock markets fall sharply after SVB collapse

The UK arm of the tech lender was bought by HSBC for a pound

Photo: AFP
Photo: AFP


Published: Mon 13 Mar 2023, 1:34 PM

European stock markets fell deeper in the red on Monday despite US moves to shore up confidence in the banking system following the sudden collapse of tech lender Silicon Valley Bank.

London's benchmark FTSE 100 index shed 1.8 percent to 7,608.75 points.

In the eurozone, the Frankfurt DAX dropped by 2.4 percent to 15,052.34 points while the Paris CAC 40 lost 2.2 percent to 7,062.20 points.


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