March 14 - The swift downfall of SVB Financial Group
after rising interest rates brought on a tumultuous period for once high-flying technology startups has impaired virtually every asset class from money markets to forex. The stunning collapse of the Santa Clara-based lender that focused primarily on tech startups was the biggest since Washington Mutual went bust in 2008.
Bank stocks - both major and smaller - saw hundreds of billions of dollars wiped away in the few days since SVB's collapse as worries of a contagion sent shockwaves across global financial markets.Our Standards:
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