Silicon Valley Bank could mark the 2nd largest bank failure in U.S. history. 

SVB Financial Group (SVB) reassure clients, after a capital raise caused a steep 60 percent collapse in its share value, wiping out over $80 billion in value from bank shares. 

Bitcoin below 20k.

US stocks and crypto have now lost over $2 trillion in market cap in under 24 hours. 

Oil breaks upward trend (down 1%) as recession fears off set weak dollar. Read More.

Barclay’s has slashed its Brent forecast by $6 and its WTI forecast by $7 for this year, now expecting $92 and $87 respectively. The bank believes the oil market is in a surplus of around 800,000 bpd currently, which will turn into a 500,000 bpd deficit in the second half of 2023.