FTSE 100 Live: “There is a broader problem” - US stocks fall and London hits 4-month low on bank jitters

A relief rally at the move by Wall Street lenders to support First Republic Bank faded into the start of US trading, with concern at the wider problems in the banking sector stoking a sense of caution.

iCapital Chief Investment Strategist Anastasia Amoroso warned of a system issue in the US banking system unearthed by the collapse of Silvergate and Silicon Valley Bank. She told Bloomberg: “I don’t think those are idiosyncratic issues -- I think there is a broader problem.”