ECB may slow rate hikes over SVB fallout

Shares in Irish banks fell sharply in line with other countries

Silicon Valley Bank headquarters in Santa Clara, California. Picture: Philip Pacheco/Bloomberg

Irish bank shares fell sharply today as the impacts of Silicon Valley Bank's (SVB) collapse continues to materialise which could include a reduction in the pace of interest rate hikes by the ECB.

AIB was down over 6.5% at 10 am, dropping fast from a previous close price of €3.84.