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flag A $50–60M fraud at two U.S. regional banks triggered global market turmoil, bank stock declines, and safe-haven demand.

flag Global financial markets tumbled as concerns over credit risks escalated following revelations of a $50–60 million fraudulent loan at two U.S. regional banks, sparking a selloff in bank stocks and broader equities. flag The VIX surged over 30%, the dollar weakened, and yields on U.S. Treasuries fell to a three-year low as investors sought safe-havens. flag Fears were amplified by recent bank setbacks, bankruptcy filings, and heightened sensitivity to regional lending risks, though major banks maintained strong due diligence. flag The sell-off spread to high-yield credit and global markets, with Asian and European indexes declining, while trade tensions and a looming U.S. government shutdown added pressure.

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