Silicon Valley Bank collapse: Here’s how and why it happened

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Euronews (English)

A bank run dealt a lethal blow to Silicon Valley Bank Friday, forcing its failure after the US Federal Reserve raised interest rates, scaring away potential investors from the financial institution best known for its relationships with high-flying World technology startups and venture capital. Its downfall is the largest failure of a US-based financial institution since Washington Mutual collapsed at the height of the financial crisis in 2008. Here’s what to know about why the bank failed, who was affected most, and how it may or may not affect the wider banking system in the US and worldwide….

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