US stocks ended mixed as investor concerns about the financial system were calmed after First Citizens said it would take on the deposits and loans of failed Silicon Valley Bank
Trading Commission said crypto exchange Binance and its CEO and founder Changpeng Zhao have been sued by the CFTC for operating an "illegal" exchange and a "sham" compliance program.shares ended up 1.6% after the company began 7,000 in layoffs announced earlier this year.
Advancing issues outnumbered declining ones on the NYSE by a 2.57-to-1 ratio; on Nasdaq, a 1.44-to-1 ratio favored advancers. The S&P 500 posted 6 new 52-week highs and no new lows; the Nasdaq Composite recorded 56 new highs and 128 new lows. Volume on U.S. exchanges was 10.32 billion shares, compared with the 12.9 billion average for the full session over the last 20 trading days.
Reporting by Caroline Valetkevitch in New York and additional reporting by Amruta Khandekar and Ankika Biswas; Editing by Chizu Nomiyama and Aurora Ellis
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Bank collapse: First Citizens Bank buys Silicon Valley BankAll SVB customers will automatically become customers of First Citizens Bank.
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Silicon Valley Bank has a buyerFounded in 1983, SVB became the go-to bank and financial services partner of technology startups.
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First Citizens Bank to buy Silicon Valley Bank deposits and loansFirst Citizens Bank agreed to buy Silicon Valley Bank's deposits and loans, the U.S. Federal Deposit Insurance Corporation said Monday.
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FDIC says First Citizens Bank has reached deal to purchase Silicon Valley BankThe Federal Deposit Insurance Corporation said the First–Citizens Bank & Trust Company has agreed to purchase Silicon Valley Bank and will insure all depositors up to federal limits.
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First Citizens Bank to buy Silicon Valley Bank deposits and loansBREAKING: First Citizens Bank agreed to buy Silicon Valley Bank’s deposits and loans, the U.S. Federal Deposit Insurance Corporation said Monday .
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