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SVB meltdown sends shockwaves across markets
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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