Business · 17 October 2025
Bank Failures in US Shake Markets, Gold Breaks All-Time High
Global markets fell on Friday after two US regional banks disclosed large losses linked to bad loans and alleged fraud. London’s FTSE 100 dropped 1.5%, Germany’s DAX 2%, and Hong Kong’s Hang Seng 2%. Around £9.5 billion was wiped from the value of major UK banks. Investors moved to safe assets, sending gold to a record $4,378 an ounce. Analysts warned that rising credit stress could expose wider weaknesses in the US financial sector.
Reported by The Guardian · How we write briefs