Troubled US startup-lender spooks share markets, bonds rally

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Reuters UK

By Tom Westbrook SINGAPORE (Reuters) – Falling bank stocks drove Asian markets lower on Friday, while bonds rallied and expectations for U.S. interest rate rises were reduced after a surprise capital raising at a Silicon Valley startup lender unleashed fears of broader banking-system stress. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.3% to a two-month low, with banks and Hong Kong tech stocks leading losses, while London and European futures each slid more than 1%. Japan’s Nikkei lost 1.3% and S&P 500 futures were down 0.4% in early trade following the cash index droppin…

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