SVB meltdown sends shockwaves across markets
Edited By WION Video Desk
Published: Mar 14, 2023, 04:00 IST | Updated: Mar 14, 2023, 04:00 IST
U.S. regulators shut down Silicon Valley Bank (SVB) on Friday and took control of its deposits after the high-tech lender’s share price nosedived. Just hours before the sudden collapse of the Silicon Valley Bank, the biggest bank failure in the US since the 2007-2008 Global Financial Crisis, US Treasury Secretary Janet Yellen said that the Treasury Department is keeping a close look at a few banks.
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