After Silicon Valley Bank, another US bank ‘Signature Bank’ sinks

Washington: After Silicon Valley Bank (SVB), America’s ‘Signature Bank’ has become defaulter. The Biden government has closed this regional bank. US President Joe Biden has announced that signature bank account holders will get all their money like the agreement with SVB account holders to maintain people’s trust in the country’s banking system.

Biden claimed that the US banking system is completely safe and in the ascendant. The impact of the upward closure of US banks has also been seen in Asian and European markets, which fell dramatically today.
The Indian stock market today hit a five-month low due to panic in the minds of investors. The 30-share BSE Sensex lost 897.28 points to 58,237.85, while the NSE Nifty lost 258.60 points.