Global financial sector loses $465 bln, Who Broke The Silicon Valley Bank And Now What

Capitalization of the global financial sector dropped by $465 bln in two days after bankruptcy of Silicon Valley Bank (SVB), Bloomberg news agency said on Tuesday. Regional U.S. banks were the most exposed, the news agency said. The KBW Regional index plunged by 7.7%, which became to sharpest drop since June 2020. The MSCI Asia Pacific dropped by 3.1%. SVB, the sixteenth bank in the U.S. in terms of the asset value, became bankrupt on March 10. On Friday, March 10, California-based Silicon Valley Bank (SVB), was forced to close. SVB was among the top 20 U.S. banks by assets….