Banking Sector Volatility Continues to Impact European and US Markets

European markets are set to open higher as investors keep a close eye on the region's banking sector following the recent U.S. banking turmoil. Minneapolis Fed President Neel Kashkari warned that the banking crisis could bring the U.S. closer to a recession. First Citizens Bank has agreed to buy Silicon Valley Bank's deposits and loans. Meanwhile, Morgan Stanley has cautioned that the European banking sector is "not as attractive as it was" last week despite recent share price drops. Rivian shares keep hitting lows, and Wall Street sees it as a cash-burning company.