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A flood of deposit withdrawals leaves is weighing on the US banking sector. Contagion risk is sending US equities sharply lower, weighing on broad sentiment.
The Bank of England has joined the Fed in hiking by 75 basis points. However, this looks to be a dovish hike amid dissenting voters and a bid to rein in market expectations.
The FOMC monetary policy decision will be crucial this week. But there is a raft of other tier-one announcements for traders to also watch. Growth and inflation will once more be in focus.
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