Will the Silicon Valley Bank crisis impact the Indian market? Read here
Updated: 14 Mar 2023, 09:40 AM IST
TL;DR.On Thursday, the four biggest USA banks lost nearly $52 billion in market value. The KBW Nasdaq Bank Index nosedived, seeing its biggest decline since the pandemic. The main culprit behind this massive crash in banking stocks was the 60 percent fall in the shares of Silicon Valley Bank (SVB) parent SVB Financial Group.
First Published: 14 Mar 2023, 09:40 AM IST