BlackRock most exposed UK-domiciled fund to SVB and Baillie Gifford range to its customers

The sudden decline of SVB sent shockwaves through global markets, and the sale of SVB UK to HSBC for £1 catalysed a sell-off in European banks, which fell almost 6% on 13 March. On the same day, the FTSE 100 dropped by 2.3%, while in the US the Dow Jones and S&P 500 dipped by 0.8% and 0.7%, respectively. HSBC buys SVB UK as regulators back US deposits The breakdown of the California-headquartered bank led to analysts predicting a pause from central banks in future rate hikes, just a week before the Federal Reserve, Bank of England and European Central Bank were all due to announce ...