janet yellen says the u.s.onsidering providing blanket the positive insurance to stabilize the banking system. we had a slightly different view from jay powell. he also dashed hopes the fed will be cutting rates this year. we will be looking for the bank reaction especially as we get more volatility across the u.s. banking sector. gold miners could see a boost. take a look at how we are setting up thursday as asia awakes to the fed decision to go 25 basis points rather than a pause and more significantly flagging that this is not the end of the road when it comes to the battle against inflation that more tightening is to come. ruling out the idea that we could see rate cuts this year. cindy futures we are up .6%. the fed pushing back against dovish expectations. we are looking at declines in sydney and also when japan gets underway. could see some gains when hong kong comes online. the aussie is trading stronger when it comes to the broader g10 and against the kiwi dollar as well. also watching the dollar yen.

joining me is >> thank you, frank.5a■ >> we heard janet yellen's 5a■6■ comments.l said we will likely see another Ñihike. which situy(u=9■ is the catalys for the steep selloff we saw yesterday? >> you and i were on the phone as this was happening doing the pre-interview. chair powell was doing5a■ a ver conference. str■+ong a fine line of and acknowledgingñ inflation risk stillu■ existing while still acknowledging that there are stresses in the banking system. i thought'c■ markets wereu■ act positively until janet yellen made her comments with çófdic insurance. it shows yoj1 how fragile sentiment is within the banking regional banks. that wase1lp enough toÑi puti everythinge1 into a sharp sello. u doing finee1 and reacting well with the increase by chair powell,tuá ended by the secretary's comments. kg cf1 o >> the comments now digested. something to watch.çó let's talk about portfolio management right nowxd in lightf the news of the hike and whate1 janet yellen said and how arefá you judging companies? what are the metrics you are looking at before bond yields jum

what more has janet yellen been saying in this speech?what more has janet yellen been saying in this speech? based on that cli - , the saying in this speech? based on that clip. the end — saying in this speech? based on that clip. the end it _ saying in this speech? based on that clip, the end it was _ saying in this speech? based on that clip, the end it was really _ saying in this speech? based on that clip, the end it was really the - clip, the end it was really the salient part of what you are saying. not only is she reassuring everyone that the american banking system is safe but that they are prepared to go in and help any other banks that are struggling. and that has given a lot of people much more confidence that the extraordinary measures that we saw take place a few weeks ago when it came to the silicon valley bank that the regulators here in america are prepared to step in to offer support to other banks as well. so that has really reassured a lot of people in terms of the health and safety of the banking system here in the us.

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that's correct. janet yellen has pretty much come into the rescue today. her comments alone led the way for more than 50 percent in today's search. today for 1st republic, a much needed bounce back for that company. and for those wondering what you said, well, you know, i'm pretty much pledged or support to the u. s. banks in a bid for ease the financial for the fears of financial contagion. you'll him toll members of the a, be a that's the american bankers association, that the federal government is ready to step in to help out other trouble lenders after the collapse of silicon valley bank and signature bank. saying that the steps we took, we're not focused on eating specific banks and that our intervention was necessary to protect the broader us banking system. and more importantly, she said that similar actions could be warranted if smaller institutions suffer. deposit runs that post the risk of contagion. so if you're wondering what does this mean? treasury secretary, you're pretty much taking a val today to come to the rescue of troubled regional ban

so that's why we are hearing the words of janet _ why we are hearing the words of janet yellen, reassurancenfidence she was talking about. she wants to try and instill— about. she wants to try and instill that confidence in people that, as she put it, the us banking system is in a healthy— us banking system is in a healthy state, and that's why also — healthy state, and that's why also we — healthy state, and that's why also we see these major 11 private _ also we see these major 11 private banks, jp morgan chase, citigroub — private banks, jp morgan chase, citigroup is including injecting some huge amount of money, — injecting some huge amount of money, $30 billion, into first republic, — money, $30 billion, into first republic, to keep it alive. the one thing _ republic, to keep it alive. the one thing that _ republic, to keep it alive. the one thing that we _ republic, to keep it alive. tie: one thing that we are seeing republic, to keep it alive. ti9: one thing that we are seeing as you mentioned, janet yellen trying to reassure the markets. it's a bit like deja vu of the 2008 financial

vonnie: treasury secretary janet yellen as total u.s. would be prepared for further steps to protect the banking system if warranted. the comments, day after her remarks on nationwide deposit insurance rattled markets. >> the strong actions we have taken ensure americans' deposits are safe. certainly we would be prepared to take additional actions if warranted. vonnie: let's bring in kathleen hays. also joining us is adjunct professor of international and public affairs at columbia university in new york. irene, the comment that was added today before congress by the treasury secretary. was that game theory getting involved where yesterday she said we will not do anything, the banking system is fine. then banks dropped and she said we need to say something to placate the situation? >> what i find disturbing is that we are being reassured too much. we keep on hearing from the swiss central bank, from the fed , from all of the authorities that everything is fine. perhaps if everything were fine we would not need to be told it constantly. t

janet yellen declares bank system is sound as new rescues are ordered.t last bit making the front pages of the newspapers across the country. bigger banks moved to rescue first republic. that bank rescued by j.p. morgan chase citibank america wells fargo and others yesterday. that followed janet yellen testimony on capital hill. here is what she told lawmakers. [video clip] >> with the depos in every community bank in oklahoma, regardless of their size be lly insured now? are they fully recovered, every mentee bank in a oklahoma get the same treatment that svb just got or siature bank? >> theank only gets out eatment if the majority of the fbseaboard, -- fdic board, super majority of th fed, and i in consultation with the president determines the failure torotect uninsured deposors would create systemic risk and significant economic and financial consequences. >> what is your plan to keep large depositors from moving their funds out of community banks into the big banks? we have seen the emergence of banks over the past decade. i'm concerned you're about

janet yellen says us taxa ers the banks. janet yellen says us taxoayers will _ the banks. taxpayers will not be footing i taxpayers will not be footing the bill for this. many people will be wondering who is footing the bill for this? well, the banks are charged a deposit insurance, a fund of roughly $100 billion that will be drawn on to cover any costs involved and frankly, the fed itself can simply cover these losses out of its reserves. but again, it begs the larger question — what will be the long run cost of the fed policy. just last week, the chairmanjerome policy. just last week, the chairman jerome powell threatened to raise rates even faster in the future. and this despite the fact that wage demands, wages in the us, actually slowed significantly last month, to less than 3% on an annualised basis. last month, to less than 396 on an annualised basis.— last month, to less than 396 on an annualised basis. when svb started to _ an annualised basis. when svb started to flounder _ an annualised basis. when svb started to flounder on - an annualised basis. when svb start

it is a reaction to the janet yellen co

janet yellen says that the u.s.s not considering blanket bank apposite insurance without working with congress. a senate subcommittee had asked her whether all protections for u.s. deposits would require congressional approval and she said that the heads of recently failed american bank should be held accountable. the u.s. fears that a war weary world might embrace the china ukraine ease plan. the presidents of china and russia discussed the proposals which the u.s. has rejected but dismissing it could lead china to argue that the u.s. is not interested in peace. global news, 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i am lisa mateo, this is bloomberg. bloomberg. ♪ to get lost in investment research. introducing j.p. morgan personal advisors. hey david! connect with an advisor to create your personalized plan. let's find the right investments for your goals. okay, great. j.p. morgan wealth management. what does it mean to be ever bett

certainly the janet yellen, jay powell split screen that caused concern and angst. janet yellen suggested there was no discussion around guaranteeing deposits putting her at odds with the signaling from jay powell. in little bit more relief coming through as u.s. investors away up those mixed messages. yields coming up about 23 basis points at the front end. that's deepening of the yield curve continues. the pound and focus as we lead up to the bank of england. strength coming through for sterling. the bank expected to hike. that is the shape of things across these assets. let's get back to the fed. hiking by 25 basis points jerome powell signaling may be more in store. >> if we need to raise rates higher, we will. for now, as i've mentioned, we see the likelihood of credit tightening. we know that that can have an effect on macroeconomy. we are going to be watching to see what that is. tom: in a senate hearing at the same time, janet yellen said regulators are not looking to provide like it insurance for u.s. savers. >> it was not considered or discussed anything h

and we are looking at pictures of that testimony right i pictures of that testimony right now, janethere are so many parallels with what happened in 2008, in the early days of that crisis, so you get a sense that regulators and financial institutions want to be on the front foot here and say we are dealing with this, we will not let this get out of control, but this time it is very different, so it brings its own set of challenges.— set of challenges. absolutely, i think there _ set of challenges. absolutely, i think there is _ set of challenges. absolutely, i think there is a _ set of challenges. absolutely, i think there is a few _ set of challenges. absolutely, i think there is a few things - set of challenges. absolutely, i think there is a few things that l set of challenges. absolutely, i i think there is a few things that are at play here. firstly, you are right, they want to make sure this does not have any resemblance to what happened in 2008, and that i think that is why so many people are saying, look, we are not letting the people at the bank get off scot—free, they are g

questions: so peter, what's prompted janet yellen to strike such a reassuring tone there?or about a week now since the collapse of silicon valley bank due to liquidity issues last week following a few days later by the collapse of the new york bank signature. it's because a lot of people to worry about their deposits and medium—sized banks especially, first republic concluded. people really getting the jitters about the security of their investments in their ability to use that money to pay their bills and pay their workers and to meet the payroll here in the states every couple weeks and it prompted some to take the action of taking their money out of those banks and putting it into larger banks thatis putting it into larger banks that is exactly what those medium—sized banks in the banking industry generally does not want to see. that is why we are hearing the words of janet reassurance and confidence she was talking about and wanting to instill confidence in people that the us banking system is an unhealthy state and that is also why we see these major ii also why we se

janet: we hired a red carpet guru, the person behind the met gala red carpet, her decision was it ise purpose of producing the best photographs. dion: try convincing the ambassador here about that. >> i'm here to protest on hoping -- well, we will see. dion: back out here live, w behind me, we have a spanish-speaking television station and also journalists who broadcast in indonesia, so really this all runs the gamut. when it comes to the park it, it park it -- the carpet, do you remember the wakonda forever for? that was purple. we shall see how champagne works out and coordinating everybody's pictures tomorrow. we will have more with janet yang tomorrow, her hopes and what she wants to accomplish with this year's oscars and how community plays a big role. live in hollywood tonight, dion lim, abc 7 news. j.r.: i love all of it. i noticed on your instagram page yesterday, you were going through outfits. i notice this fashionable, lovely outfit you h now. how long does it take to get some thing like that? dion: i love that you are a guy, jr, asking me that. first of all, thank you, al

janet yellen offered more assurance u.s. banks are safe and sound and we doubt the treasury secretary believes it, no one else does. the economy and banking system are a okay when they are not, the more markets get nervous. >> todd: that is concerning from

i want to point to some of janet yellen's comments today. the market was waiting for what she was going to say. she spoke at 3:00 p.m. in the session. the bank index spiked having dropped as she spoke because she put the extra comment in that the treasury department would be willing to take additional actions if warranted. then they began to think what does that mean? does that mean it might be wanted? we don't know what is wanted. we do know that bad loans rose again to almost $100 billion. that is $143 billion or just under. let's have a listen to what janet yellen did have to say. >> destroying actions, we have made sure that american deposits are safe. we would be prepared to take additional actions if warranted. >> that was the comment on whether something was consoling or worrying, that is debatable. stock market investors are debating that as well. the bank slightly reduce their borrowings from to backstop facilities. that would be the discount window. let's go to bloomberg's and economic policy reward, the best, i saw about this new

what janet yellen is saying about that and the continued fears over u.s. banks. >>> and a player on the cuban national baseball team reportedly defects during the world baseball classic in miami. stay with us. if your business kept on employees through the pandemic, getrefunds.comom can see if it may qualify for a payrololl tax refund of up to $26,000 per employee. all it takes is eight minutes to get started. then work with professionalsts with its forms and submit the alication. thengo to getrefunds.comnalsts to learn more. sometimes you're so busy taking care of everyone else you don't do enough for yourself, or your mouth. but eventually, it will remind you. when it does, aspen dental is here for you. we offer the custom dental treatments you need, all under one roof, right nearby. so we can bring more life to your smile... and more smile to your life... affordably. new patients without insurance can get a free complete exam and x-rays, and 20 percent off treatment plans. schedule your appointment today. >>> we're following some major developments from

janet yellen is going to be on the hill where she is going to be talking about the budget, and there is going to be plenty of questions about the budget and she is going to need a calm tone where she tells americans that their deposits are safe. we will bring that to you live. >>> and the moment when a russian jet collided with a american drone causing it to crash into the ocean. we will show you how. >>> we rebbring you to the statf the u.s. economy now. >> matt egan is joining us, and everybody is paying attention to the secretary this morning and the words, and she is getting out ahead of this a little bit with the words telling americans to be calm and their money is safe. >> yes, this is a big moment for the treasury secretary and she knows that confidence is a fragile thing, and she knows that it has been shaken by the failures, and she wants the americans to know that the money in the bank is safe, and in the prepared remarks, and americans can feel confident that their deposits will be there when they need them, and she points to what she describes as, quote, decisive and for

we are joined by janet ivy. she is a ceo of janet's planets and the president of explore mars.always great to see you, janet. good morning to you. all right, so the city killer didn't kill anybody. so we're in good hands. tell us and why this this event was is so rare and then asteroid of this size is actually the unusual part, right? it is and it as you said, it usually happens once every decade. and this happened . you know it passed easily between the earth and the moon was about 100,000 miles from us and gave us a great opportunity to take a finer look at these objects. but the good news is asteroid near don't fear because it's like last fall, nasa successfully crash landed a spacecraft into an asteroid moving and changing its orbit by about, you know, 20 minutes or so. so they feel confident that if anything were really ready to strike a city here on earth we could, you know, launches spacecraft and kind of knock it out of the way so again, it gives astronomers great opportunities to take a look see what these things are made of, and quite a spectacle if you were up watchi

janet yellen, the head ofthe water. janet yellen, the head of the treasury _ water. head of the treasury there, - water. janet yellen, the head of the treasury there, talking about how important these regional banks are, like svb, and they are very important, aren't they, in terms of the ecosystem within the us economy, small and medium is a rely on these banks, what if your outlook in terms of that? well, you know, the us banking system is really four banks, the central bank, the large monies and debates, the regional banks they silicon valley bank's, and the small banks, the regional banks provide very specific rights and services that the rest of the banking ecosystem doesn't provide, especially around the start—up community, venture capital, and there are entire segments of the market that aren't going to exist, silicon valley provided about 40% of the venture debt in the united states is one example. i think for the next few years it's going to be a big challenge for earlier stage and ventured back companies in the united states defined banking products that fit

ross, great to you have here. >> thanks for having me on. >> confusion from janet yellen. we saw the 25 basis point hike on wednesday and banking crisis in recent weeks impact the economy and investing outlook. long term, now i think we have settled the situation with janet yellen, a few questions are left. how does this impact investing in the near term and long term for the rest of 2023? >> sure. typically when the fed hikes and hike this much, it ends with something breaking. whether the bank or international crisis related to a currency devaluation. from that point, the fed has to pivot. a pause or outright easing. we have seen this playbook the last 40 years. from that point, you enter a new stage against the fight of inflation or tightening. it becomes a good time to start thinking about getting risk on. near term, you will see volatility. defensives might out perform as we head to the slowdown. longer term, this pivot from the fed has represented a good opportunity to get risk on. stocks have done well outside a few unique instances. >> a lot of people say risk on.

then they watched janet yellen say yes, no. jay powell says yes, no, nobody sure.is what is haunting them. these polls are not offended if they are polls and not boats. i just wanted track sentiment. one look sunday march 12 when they decided to guarantee silicon valley bank. that was a bailout and i don't think anybody liked it and i think biden is paying the price. >> is been paying the price for independence since the chaotic and unnecessary irrational pullout from afghanistan. he never won independence again. things like this don't help, who were independence, some relapse democrats i left the democratic party in a holding pen under powder they don't want to vote republican they want to feel convinced that we do it friendly and have solutions in finisher sentences and talk about the solutions. independence are also people who hate political parties they don't like washington trust washington they don't trust washington did not bailout something in california and nationwide silicon valley bank. he is not to get independence packets can be very hard to ever get n

janet yellen on capitol hill testified that our banking system is sound. senator marsha blackburn is here and we'll see if she is buying that. she is coming on at 2:30. america has a new favorite breed of dog, it might surprise you. tweet me your favorite @cvpayne. my takeaway why silicon valley is the new roman colossus. all that and so much more on "making money." ♪. charles: feels like you're surfing, right? market trying to get equalibrium here. all developments. news coming so fast even too fast for the digital age interesting there is nothing new about a banking crisis yet there are unlimited opinions out there how we should be addressing this, what it means for the economy and the stock market. of course at the end of the day the only opinion that matters is jay powell and company, right? the federal reserve will dictate everything. this is modeling on the street. this is kind of nuts. here we are right now, wall street sees one more rate hike. we stay here. then we get a rate cut. then we get a big rate cut. then we get more rate cuts. we get more

did you hear what treasury secretary janet yellen said today? she insists the bank situation is stablizing and the fed will intervene to protect small banks, all the kind of things you would expect but she also let out the feds are indeed mulling unlimited deposit guaranties if the bank crisis worsens. who pays for that? we'll ask former house majority leader eric cantor who fears well, taxpayers do. florida republican congresswoman anna paulina luna, on the law of unintended rescue consequences and violent crime worries this spring break in i guess the spring break capital of the world, florida. yeah. florida. ain't that a beach or should i say miami beach? welcome, everybody, i'm neil cavuto. glad to have you. sunny skies for stocks thus far. they have given up a lot of their gains, close to over 300 points earlier in the day. 126 points, to kenny polcari what he makes thiscom pac tuesday. kenny. >> how are you? i feel good about this comeback tuesday. a lot of angst we saw certainly was created out out of the hysta over the bank situation and

this comes after treasury secretary janet yellen tried to reassure congress and the nation that america's banking system is sound. >>> welcome to our viewers here in the united states and around the world. i'm wolf blitzer. you're in "the situation room." >>> this hour, pieces of a downed u.s. drone may now be in the hands of russia. two days after aggressive moves by kremlin warplanes over the black sea, critical moments of that encounter captured on video newly released by the u.s. military. cnn pentagon correspondent oren liebermann is following all this for us. first, what are you learning? >> reporter: russia got to the scene of the crash site hours after the u.s. operators took the drone down. they believe russia collected some of the debris, some of the wreckage from the drone as senior russian officials said they would do to learn more about it. officials downplayed the significance of what was left from the drone, first because it's small pieces of wreckage, and second, because sensitive information was wiped from the drone before it crashed. >>> what might be the first fiscal co

janet yellen flip-flops. she's trying to put lipstick on that billionaire bailout, and let's just say it's not that easy. plus, my takeaway on the modern day federal reserve and why jay powell will soon be tossing money out of the helicopter just like i all his predecessors. all that and so much more on "making money." ♪ ♪ charles: all right. so it was interesting because yesterday -- we're up a little bit now, and is you want to see the internals, but yesterday we were up, but service the only two sectors. the broad market got hit pretty good, and they were led by real estate and financials. today the market wantedded to rally. yesterday it wanted to rally as well. treasury secretary janet yellen, though, she began to the speak and it's the really remarkable, she just kneecapped the optimism for the second day in a row. yesterday, of course, stocks tumbled on confusion. there was a flip-flop to the prior day's flip-flop, and i've got to be the honest, right now i think everyone's confused. meanwhile, another

nearly 5% decline in banks after janet yellen spoke. msci asia pacific and s&p 500 futures clawback some gains. let's get to our top stories. the fed hiking by 25 basis points and jerome powell signaled more tightening may be in-store. >> if we need to raise rates higher, we will. i think for now though, as i've mentioned, we see the likelihood of credit tightening. we know that that can have an effect on the macro economy, on demand, the labor market, inflation, and we are going to be watching to see what that is. dani: but in what was a pretty morning testimony from powell, what made sparks fly was the senate hearing that happened at the same time. treasury secretary janet yellen said regulators are not looking to provide blanket deposit insurance for u.s. savers. >> that is not considered or discussed anything having to do with blanket insurance or guarantees for deposits. dani: this, let's get to bloomberg market reporter valerie tytel. valerie, messages that had different reactions and markets. what were your main takeaway? valerie

janet: so i don't want to take anything off the table. the challenge is so significant.t want to take crispr technology, i don't want to take shiing diets, i don't want to take restoration, or reducing -- it's all of these things. reporter: in the eu, genetically edited ops are labelled gm, and therefore heavily regulated. but there's increasing discussion about whether the gm label is still appropriate. or if genome editing should be considered a new breeding method instead of classic genetic manipulation. in the u.s., china, and many latin american countries, genome edited crops don't need to be labelled or controlled as gm, and the sector plans to bring several crops to the fields in the coming years. as highly advanced as genome editing methods may be, conventional breeding will remain as important. neither will be able to make up for the huge burden we currently put on our ecosystems, but they'll probably fill the food gap in the future. host: several african countries have experienced ebola outbreaks in recent years. thousands of people have died from the infectiou

i know, i understand janet that your county is a part of this. and i think you should speak about your experience at the stepping up initiative. it has been really important. it's an important partnership between nato, between the american psychiatric association, council state governments. and this is really about providing counties with the resources to be able to figure out more innovative ways to help people in crisis to bring more resources to bear. so i would love to have your share for a minute, just to turn the mic back to you, about what your county's experience has been. >> so, with stepping up, if i get the chance to talk about stepping up or familiar faces, i'm going to go on for a long time. it is really important because it allows you to start looking at resources and barriers in your community. it allows you to see what you have, what you can use, and it's. you were talking about silos. this is really important. i am from the midwest. silos are only good for storing grain. so, we have to work together. we have to make sure that the

treasury secretary janet yellen reashuring americans about their savings amid fears of a wider fallout. >> i do want to emphasize that the american banking system is really safe and well capitalized. >>> also tonight, eight people are killed after suspected smuggling boats capsized off the san diego coast. >>> new storm. battered by destructive flooding, california ready for more extreme weather. >> we are dealing with rain and wind events that can only describe as the super soaker saturation event. >>> legal jeopardy? former president trump stumped in iowa with his former victor set to talk to prosecutors about their hush money investigation. >>> plus roman catholics mark a milestone. >> it's been ten historic years since francis became pope. >>> and later, they are on the frontline in ukraine's fight to preserve its culture. why the show goes on, despite russia's war. >> why is it so important to step in? >> translator: we want the world to see that ukraine also has its own incredible culture. >> announcer: this is the cbs weekend news from new york with gent duncan. >>> the debate o

treasury secretary janet yellen was sending confusing signals on whether all bank deposits are safe orse of the treated $50000 the current fcic guaranteed limit. how alarmed should we be the economic policymakers are clueless. let's talk about it with our panel lauren let me come to you first. it's pretty disturbing our key leadership here do seem that the federal reserve lost control of inflation completely and fighting to get back on top of it and then the process causing harm and damage with higher interest rates janet yellen doesn't seem to be able to make up her mind from one day to the next where people are going to be protected when banks fail that's not the leadership that we expect from washington, is it? >> when it comes to the fed it's really important what it remains political, jerome powell was appointed by trump and held over by biden, when the fed becomes politicized, as we see eventually starting to happen we saw that through coded what is the role and we republicans and democrats arguing about the role of the fed during covid would becomes politicized that's when you h

against janet going to take place if — battle against janet going to take place.where have china been trying to put— position, where have china been trying to put a _ position, where have china been trying to put a stand _ position, where have china been trying to put a stand influence? i position, where have china been. trying to put a stand influence? and me and _ trying to put a stand influence? and me and mark, — trying to put a stand influence? and me and mark, sri _ trying to put a stand influence? and me and mark, sri lanka, _ trying to put a stand influence? and me and mark, sri lanka, pakistan, i me and mark, sri lanka, pakistan, all countries — me and mark, sri lanka, pakistan, all countries that— me and mark, sri lanka, pakistan, all countries that in _ me and mark, sri lanka, pakistan, all countries that in effect - me and mark, sri lanka, pakistan, all countries that in effect around i all countries that in effect around india _ all countries that in effect around india so— all countries that in effect around india so on— all countries that in effect

it janet jaelyn says, sir, yes, we want to avoid contagion, but no way they'll be a bailout. what do you make of the comment? i don't think it's not surprising to be honest. i and it seems we have lost alistair, alistair, well, then that would have been such a an interesting answer. no doubt to that question, but we have to leave it there. that was alistair, well, man, there pops, will get him back. meanwhile, the leader of russia's wagner mercenary group, says it has made further advances in the ukrainian city of box lieut, reaching the river that divides the city center. earlier this week that now claimed it had captured the eastern part of the city ukrainian president milady. mister lensky has vowed to keep fighting amid fears that the fall of the city could lead to further russian gains in the east ukrainian tanks. on the outskirts of buck moot, determined to see off any further russian advances despite rushing gains in the east of the city, the fight for control continues. reward the year as power motivation. we are fighting until we achieve victory through what we need

now as this was happening, fed chair janet yellen spoke to congress saying the u. s. banking system remains sound. now let's get some insight from wall street on these developments. yes. call to joins me from new york. hi jens. yes. how worrying is what's going on with 1st republic? yeah, maria, desperate time stephan at lee call for desperate to measure says so when we got to word that obviously i'm almost a dozen of from usaa banks are jumping him to an end to get a deposit to 1st republic him that did definitely cause so quite it would change, sure, but then again, i mean to think about it as sort of competitors helping another bank to stay afloat . that is of what i would call a desperate measure. i mean, the stock did turn around into is saw some decent gains in the so stay station. but now in after our trading, the stock is actually down again a buy at 20 percent of the management and hinted that it's not going to pay any a dividend. so those are definitely pretty uh why hooks. i'm said we're seeing right now in the financial system while times and janet yell

yesterday, we saw reaction to janet yellen pushing back against widespread guarantee of uninsured e1depositsled the banks stateside and thewju)sq't is across to the banking names in europe thib morning. we are trading lower in media stocks. down by 1% at this stage. every stock in that basketÑi trading weaker. .75% off construction. the theme is all stocks in the baskets are in the red. all trading with red arrows. financials are a basket containing theÑi banks here in europe including ubs. oil and gas is down e1.40%. thee1 defensives toward the top end of the boarde1 from xdtelco utilities to real estate tracking below the flat line. autos givingxd back a tiny bit territory. there are green arrowse1 from porsche to renault.e1 just leaning positive. not much in the way of green arrows here. it is technology out in front .30% to the upside. we got above the threshold!u■ o 7,534. .40% off from the start. a bigger decline and that is the pound support we have seen with n the currency and the inverse relationship. we are giving back .40%. that is more than coming off the french and german stock

so janet jaelyn has ruled out a bailout. what does that mean for the people or the companies that still have their money in the bank? no. well, in general, i mean at least a few talk here about the united states, but that is similar in other countries too. so you have for insurance for about $250000.00 per account of i of the if the i see. so if you have more money than those $250000.00, and that actually seems to be true for a vast majority of the clients of silicon valley bank, you're looking as a potential loss. but i mean, the whole story is still unfolding. i've seen reports that maybe there might be an auction auction of some of the i city of silicon valley bank, maybe someone might even jump in and try and buy the bank. so the whole story is still unfolding, but we are looking at potential losses. so actually in the billions for companies and also the private lines, the and thanks for great analysis, that's the financial correspondence. yes, a quarter in new york. let's take a quick look now at some other news making

thank you. us treasury secretary, janet yellen has said the government is not looking at bailing out silicon valley bank after it was struck down by you as regulators on friday. the bank is the 16 largest in the united states. authorities say they were worried about the banks. liquidity offered lost money while selling assets. the concerns from to the banks. depositors mainly tech companies who rush to withdraw from sparking fears over the wider banking sector. and for more analysis, i'm joined by business reporter matters like money matters. how could this happen? well, 1st we have to understand. so silicon valley bank has a very concentrated client base, right? it's tech companies and mostly tech companies. so that's one problem. the 2nd problem is they invested most of their money in government bonds and the nature of interest rate hikes, as we have them with the central things right now is that government bonds sort of decrease in value over time. and that created a problem for s e b, because some of the clients weren't sure their money was still safe. and that's what happened on

good evening, janet. >> reporter: norah, good evening to you.tion about this attack tonight. we have learned that the shooter, who was under medical care for an emotional disorder, legally purchased seven firearms they were hiding in their home, three of which were used in the school. also nashville police have now released body cam footage of those officers stopping the attack. and a note of caution here, the video is graphic. >> it's going to be first floor, main lobby. >> reporter: these are the moments nashville police responded to the call of an active shooter. >> the kids are all locked down. we have two kids that we don't know where they are. >> reporter: with a teacher's guidance and without hesitation. >> it's upstairs. it sounds like it's upstairs. >> reporter: taking out the shooter with a burst of shots just minutes after entering the school, and 14 minutes from the first 911 call. >> shots fired, shots fired, shots fired! move! >> reporter: likely preventing further loss of life. they are rex engelbert, and michael collazo. two of f

so the government, janet yell and she's saying that they won't bail the bank out. does that mean? this is not as serious as him. i think we don't know yet. the honest answer is that we will see how those shakes out throughout this week. and one thing to know is that silicon valley bank was unusually exposed to one sector as it is right. and they had mismanagement practice with their risk. but so that, that could mean that it's contained in this one bank. but the question is, is it connected to other banks in the system? and that's where we don't really know where we stand yet. so there's hope, but we don't know yet. is this a u. s. story or other implications globally? so the other branches of the bank globally have had issues as well. so in the u. k, jeremy hunt to find a secretary there is saying that they're trying to take all steps to prevent run on the bank. bear to prevent companies from having repercussions. and we're hurrying similar stories around branches in other parts of the world. well, the wider picture though, is that we see that the interest rate hikes of central b

janet shamlian starts us off from houston.good evening to reports that the missing americans could've been targeted by mistake. now assisting with the investigation and a note of caution, the images are graphic. >> this is a moment four americans were kidnapped in mexico, just across the border from brownsville, texas. traveling in this white minivan with north carolina plates when they came under fire. the video appears to show a woman forced into the back of a pickup truck by men with guns, then two others who appear hurts, loaded next to her. the mexican president says that four are going to biomedicine, less expensive in mexico as hundreds of thousands of americans do each year. and that the could've been mistakenly targeted. the white house today saying it's closely following the situation. speak of these sorts of attacks are unacceptable. our thoughts are with the families of these individuals and we stand ready to provide all appropriate counsel or assistance. >> reporter: minna morris is under a four do not travel advi

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