⚠️3 Things to Watch This Week: -Stock Market Turmoil -SVB Blowback -U.S. Inflation Data $DIA $SPY $QQQ $IWM $VIX
SVB, which focuses on tech startups, saw the value of bonds where it had parked its money fall due to higher interest rates. A plan to boost the value of its holdings backfired, prompting a run on the bank before regulators stepped in on Friday, shuttering the bank and putting it in receivership.
The rapid collapse sent jitters through global markets and walloped banking stocks amid fears over contagion in the financial sector and beyond. "The concerns emanating from the financial sector are rippling across the market in general,” said Michael James, managing director of equity trading at Wedbush Securities. “When you combine the debacle of Silvergate with the collapse of Silicon Valley Bank ... that's creating a ripple effect of concern for the overall market stability."While Friday’s mixed U.S.
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