U.S. retail sales fell moderately in February, likely payback after the prior month's outsized increase, but the underlying momentum remained strong, suggesting the economy continued to expand in the first quarter despite higher borrowing costs.

Asian stocks slid on Thursday and investors turned to the safety of gold, bonds and dollars as Credit Suisse became the latest focal point for fears of a banking crisis, leaving markets on edge ahead of a European Central Bank meeting later in the day.

Safe haven currencies like the U.S. dollar and the yen were in demand on Thursday on renewed fears of a global banking crisis, after contagion from the implosion of U.S.-based Silicon Valley Bank spread across the Atlantic to Swiss bank Credit Suisse.

 Embattled Swiss lender Credit Suisse Group AG (SIX:CSGN) (NYSE:CS) said on early-Thursday that it will exercise an option to borrow up to 50 billion Swiss franc ($53.68 billion) from the Swiss National Bank under two loan facilities to shore up liquidity conditions.

Oil prices crept higher from 2021 lows on Thursday as an upbeat outlook on a Chinese economic recovery helped spur some hopes of a demand rebound this year, although markets remained on edge over a potential banking crisis. 

The National Institute of Interdisciplinary Science and Technology (NIIST) here, a constituent lab of the Council of Scientific and Industrial Research (CSIR), will direct its efforts towards promoting rubber cultivation as part of a broader strategy to cut down India’s dependence on imports.