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Dow Jones Index closed at 31875 down 280 points, after recouping some of intra-day losses of 700 points.

SVB collapse ramifications. US Bank Index down almost 30% in last one and a half month. Banking sector decline intensified after Saudi refusal to come to Credit Suisse rescue by increasing stake.

Credit Suisse borrowed more than $50 billion from Swiss National Bank after shares crash 30%. Credit Suisse was founded in 1856, is one of the biggest financial institutions in the world and categorized as a “global systemically important bank,” along with just 30 others, including JP Morgan Chase, Bank of America and the Bank of China.

WTI below $68 and Brent below $74 on panicky stock market conditions. Oil price was more than 5% down in todays session, Oil is at 15 months low now. Downturn has pushed price action toward the 200-week MA (moving average), providing support at $66.00. Read More.

Gold trading at +19k on safe haven considerations. May not remain so if panic about market deepens.

Pakistan investment Bonds, PIB Auction Result (15-Mar-23)
-  3Y cut-off: 18.0500%
-  5Y cut-off: 13.8000%
-  10Y: Bids rejected
-  Bids not received for 15Y, 20Y and 30Y
- SBP raised PKR 26.4bn against a target of PKR 100bn.

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