Silicon Valley Bank collapse sends shockwaves through financial industry
By Gauri Patel | Mar. 27, 2023On March 10, California-based Silicon Valley Bank collapsed and was taken over by federal regulators, marking the largest failure of a U.S. financial institution since the height of the global financial crisis of 2008, according to AP. The financial industry, already struggling with the consequences of climbing interest rates and self-inflicted wounds, has felt the shockwaves after the collapse.
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