Allkem General Discussion, page-3194

Here's the probable reason :

March 10, 2023 05:34 CET Falling bank stocks drove Asian markets lower Friday, while bonds rallied. Expectations for a U.S. rate hike fell after a surprise capital increase at a Silicon Valley startup lender sparked fears of major problems in the banking system. Shares of Silicon Valley Bank continued to slide after the market closed, losing about 70 percent of their value in 24 hours. Shares of major banks were dragged down with them: J.P. Morgan Chase & Co JPM lost 5.4 percent, Citigroup C 4.1 percent, and major lending institutions in Asia and Australia slid Friday morning, albeit to a lesser extent. "I think there is speculation that there are bigger problems within the U.S. banking system, or that there is that potential, and that has caused a rethinking of Fed policy," ING economist Rob Carnell said in Singapore. "But it's pretty squishy speculation ... which just shows how unsettled the markets are right now, and that has spilled over into all other markets."Translated with www.DeepL.com/Translator (free version)