Write For Us

US seizes control of SVB in second bank failure in a week | DW Business

Sponsored Post Vitamin D2 Canada Persia
34 Views

  • Thanks! Share it with your friends!

    You disliked this video. Thanks for the feedback!

ava
Published
US authorities have seized control of Silicon Valley Bank to protect depositors at the California-based bank as the bank's woes sparked fears of contagion in the sector. Silicon Valley Bank says it lost 1.8 billion dollars in sales of securities in an effort to raise funds.
With interest rates rising, SVB saw heavy withdrawals and needed more liquidity. SVB works with over half of US tech and healthcare startups. Its shares dropped 60 percent on the news, taking other US banks down as well.

Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1

For more news go to: http://www.dw.com/en/
Follow DW on social media:
►Facebook: https://www.facebook.com/deutschewellenews/
►Twitter: https://twitter.com/dwnews
►Instagram: https://www.instagram.com/dwnews
►Twitch: https://www.twitch.tv/dwnews_hangout
Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch

#USA #BankFailure #SiliconValley
Category
Europe
Tags
DW News
Sign in or sign up to post comments.
Be the first to comment