Following the swift collapse of Silicon Valley Bank (SVB), world markets brace for severe aftershocks due to the significant losses backed by the financial/banking industry.
The SVB collapse will go down as the second-largest bank failure in U.S. history and the largest since 2008.
The startup-focused lender is expected undergo several security operations along with Signature Bank in New York which was shut by regulators following the failure of SVB.
Markets are set for a bumpy road this upcoming week.
by Julia Whiteford