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Global equities fall, gold rallies as banking worries linger

March 17, 2023

Investor sentiment remained fragile on Friday despite massive rescue for the banking sector, leaving global equities under pressure while gold prices were poised for their largest one-week rally since March 2020.

U.S. Treasury yields extended their slide, and oil prices dove to 15-month lows.

Data showed March U.S. consumer sentiment fell for the first time in four months.

In a crisis that began with the collapse of U.S.-based Silicon Valley Bank last Friday, investors lost confidence in U.S. regional banks and Credit Suisse in Europe.