The CAC 40 has a hangover – In recent days in the ocean of financial markets present a strong swell, which would make any freshwater sailor or inexperienced cabin boy lose his footing. Yet the central bankers of the Federal Reserve American (the Fed) deprived themselves of rest this Sunday to release a $25 billion bailout fund. This, in order to avoid other deadly liquidity criseslike those of the Silicon Valley Bank (SVB). But this does not yet seem sufficient for the CAC 40.
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The Silicon Valley Bank crisis affects the CAC 40 and the French equity market
If there have not yet been other catastrophic explosions (for now), the equity markets are clearly not yet very reassured. This Monday, March 13, 2023, in the middle of the afternoon (Paris time), the French flagship index, the CAC 40turns like this to red.
As reported in particular by the newspaper Les Echos, the very slight drop this morning at the opening of the Paris Stock Exchange turned into more significant loss. The CAC 40 lost close to -3% since 9 a.m. this morning. The index even has crossed downwards its symbolic threshold of 7,000 stitches briefly, and struggles to survive around this threshold at the time of this writing. It must be said that the American stock exchanges NASDAQ and NYSE have just opened, which could rock the markets for a few more hours (at least).
Unlike the CAC 40, and in a interesting decorrelationTHE bitcoin price is doing quite well and goes over $24,000. THE reassuring words from Circle on his stablecoin USDC (which has recovered its indexation on the US dollar) seem to have back in a good mood the crypto-asset market. But if dominoes continue to fall on the side of the banking sector, this improvement may not last. Stay well attached to the railing!
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