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March 10, 2023

Turmoil at Silicon Valley Bank Causes Market Panic: Four Biggest US Banks Lose $52 Billion in Valuation and Dow Drops 540 Points


On March 9, 2023, financial markets experienced panic due to turmoil at Silicon Valley Bank's parent company, SVB Financial Group. The company announced a massive equity raise to cover a $1.8 billion loss on the sale of investments, which led to a massive sell-off in banking stocks. This caused the ...

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