Why Banks Are Failing And What Do You Need To Do Now
NDTV
So far three US banks - Silvergate Capital Corp., Silicon Valley Bank and Signature Bank - have collapsed.
The financial world hasn't seen a week like this since 2008, with turmoil in the banking sector igniting fears that the global economy is on the brink of another crisis.
For those who didn't experience the last financial crisis, the fast-moving situation can be confusing - and more than a little unnerving. Looking to catch up on everything that's happening? We compiled a guide to help readers get up to speed as the weekend arrives.
The news
So far three US banks - Silvergate Capital Corp., Silicon Valley Bank and Signature Bank - have collapsed. First Republic Bank, another large US lender, is teetering with its share price down more than 70% just this week. It plunged 33% Friday even after it received a $30 billion lifeline from its bigger peers on Thursday in an attempt to stem the turmoil. Analysts expect the uncertainty to continue to weigh on bank stocks.