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US Banking Sector Worries Cause European Stock Decline

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Ziad Najjar
Ziad Najjar is an Egyptian author who studied business and finance in the United States and has a keen interest in media. He combines his expertise in these fields to create informative and engaging works accessible to a broad audience.

European stocks fell in trading today, Thursday, in light of concerns about the US banking sector after the collapse of shares of the US bank “First Republic Bank”.

And by 10:30 Moscow time, the British FTSE 100 index fell by 0.28% to 7839 points, and the German DAX index – by 0.28% to 15751 points.

The French CAC 40 index also fell 0.14% to 7459 points, according to Bloomberg data.

Yesterday, Wednesday, the Dow Jones closed 0.68% lower at 33,301.87, while the broader Standard & Poor’s 500 closed at 4,055.99, down 0.38%.

This was in contrast to the Nasdaq index, which rose 0.47% to 11854.30 points, according to Bloomberg.

This comes in light of the collapse of the shares of the US bank “First Republic Bank” amid fears of the collapse of the bank due to the withdrawal of deposits. Yesterday, the bank’s shares fell 29.75% to $5.69.

Source: RT + Bloomberg

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