SVB Collapse Impacts Global Finances With $465 Billion Loss
The biggest Silicon Valley Bank (SVB) collapse impacted stocks globally, leading to $465 billion market value loss so far. The declines came after US peers tumbled, with investors questioning whether a government rescue plan for the banking system will prevent more fallout. Now, Asian lenders have been seen as more insulated from direct risk. Moreover, Depositors withdrew savings and investors broadly sold off bank shares.