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The Independent UK
The Independent UK
National
Holly Williams

FTSE 100 suffers sharp fall as HSBC buys Silicon Valley Bank UK for £1

HSBC Silicon Valley Bank United Kingdom SVB United States
Copyright 2023 The Associated Press. All rights reserved

London’s FTSE 100 Index has tumbled further as banks remained in the red amid fallout from the collapse of Silicon Valley Bank despite emergency action in the US to protect customers and a rescue deal in the UK.

The top tier fell nearly 2% in morning trading on Monday, down 132.2 points at 7616.2, with banks and financial stocks extending share losses seen on Friday.

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