Stocks Drop On Wall Street After Collapse Of Silicon Valley Bank

Silicon Valley bank is partnered with various tech companies and startups, but now regulators have seized its assets in the largest bank failure since 2008. 

Saturday, March 11th 2023, 11:04 am

By: News On 6


Silicon Valley bank is partnered with various tech companies and startups, but now regulators have seized its assets in the largest bank failure since 2008. 

The bank was squeezed by rising interest rates and shrinking deposits from their tech clients.

The Federal Deposit Insurance Corporation insures deposits will be available Monday when Silicon Valley bank reopens.


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