With the failure of two US banks, the value of some banks’ shares fell globally. You can tell the government is taking a financial catastrophe seriously when the US president personally goes out of his way to assure citizens that their money is secure.
However, Joe Biden’s guarantees on Monday weren’t simply for the clients of the two collapsed banks. Wider repercussions affect both the US and the rest of the world.
SVB and Signature Bank
After Silicon Valley Bank (SVB) and Signature Bank failed, these are the top five queries.
US authorities shut down Silicon Valley Bank on Friday after seizing its assets.