Biden pledges 'whatever is needed' amid bank fears

Stocks in some US banks have continued to fall, despite President Biden's attempt to reassure Americans their money is safe after the collapse of Silicon Valley Bank. At one point shares in Western Alliance fell by 80%. Another bank First Republic was down by 75%. Earlier, Mr Biden used a televised address from the White House to say he would do whatever was needed to maintain stability. Stock markets across Europe closed down by more than 2%, with some banks suffering much steeper falls. Credit Suisse closed at a record low after declining by nearly 10%.

Also in the programme: Malawi declares a state of emergency as it struggles to deal with tropical storm Freddy - still battering south East Africa; and a nuclear powered submarine plan for Australia - so how will it affect tensions between the West and China?

(Photo: United States President Joe Biden delivers remarks on the United States banking system after the collapse of Silicon Valley Bank (SVB) 13 March 2023. Credit: Chris Kleponis/POOL/EPA-EFE/REX/Shutterstock)