The S&P 500 sinks as the US banking crisis spreads across the Atlantic, weighing on sentiment. Meanwhile, defensive assets rally on haven demand, with the US dollar up against most of its peers.

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Jeremy Hunt extended the energy cap for 3 months while boosting investment incentives and labour supply. Corporate tax incentives offered to counter tax rise

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The European banking sector is reeling again with all constituents of the Euro Stoxx index heavily in the red as risk sentiment turns sour.

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Spot Gold displayed whipsaw price action following the European open, flirting with the $1900 level. Bears remain hopeful though if gold prices remain below the $1925 handle.

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The ECB is set to hike rates by 50 basis points on Thursday despite the ongoing banking sector turmoil, according to one ‘source report’.

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