Widespread Panic Hits US Banks as Fears of a Systemic Liquidity Crisis Cause a Massive Bank Run
BANK RUN USA PANIC - Second USA Bank Collapses in 3 Days, Run of Withdrawals Causes Liquidity Crisis
Dow Jones on Fri suffered biggest weekly loss since June
after regulators closed Silicon Valley Bank to protect deposits
SVB closed by regulators, deposits under control of regulators
Silicon Valley Bank 18th largest bank in the USA
beleaguered bank's efforts to secure funding had failed
collapse following Fed's aggressive pace of rate hikes
The turmoil in banks triggering systematic banking crisis
The turmoil in banks triggering systematic banking crisis
widespread fears of spillover into broader banking sector
Signature Bank closed 23% lower
First Republic Bank fell more than 14%Dow Jones Industrial fell 345 points
Nasdaq Composite down 1.8%, S&P 500 fell 1.5%.
The views expressed are those of the writer and do not necessarily reflect those of MMKtT.
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