03/13/2023
The collapse of the Silicon Valley bank in the United States dragged down the U.S. stock market and closed sharply again on Friday. The Dow fell for a 4th day in a row. Accumulated throughout the week, the decline exceeded 4.44%, the largest decline in nearly 6 months. The S&P fell 4.55%. The Nasdaq fell as much as 4.71%. Headquartered in California, Silicon Valley Bank is a bank that provides financing services for start-ups. As it hopes to raise $2 billion to offset losses from bond sales. After failing, Wei tried to find a buyer, but also failed. It was eventually ordered to be closed and taken over by regulators. Investors worry about whether the US banking system will trigger another financial crisis. It is also the reason for the sharp drop in the stock market. The ensuing interest rate hike worries, I believe once again set off the current
