The Silicon Valley Bank sign hangs above one of its branches in San Jose, CA, on March 13, 2023.Benjamin Fanjoy, AP Asian markets sank Tuesday, with banks bearing the brunt of the selling on fears of contagion in the sector after the collapse of two regional US lenders.The swift closure of Silicon Valley Bank on Friday, followed by Signature Bank days later, forced US authorities to immediately pledge support for other lenders and depositors.
#back #authorities #interest-rates #federal-reserve #financial-crisis #treasury-department #financial-markets
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