Reactions to Silicon Valley Bank meltdown

California banking regulators closed SVB Financial Group, the largest bank failure since the financial crisis, to protect depositors. Rising cost of money and hidden risks in the banking sector are concerning investors. The money centers, especially JPMorgan Chase & Co, Bank of America, and Wells Fa

March 12, 2023 . 6:37 AM

1 min read

California banking regulators closed SVB Financial Group, the largest bank failure since the financial crisis, to protect depositors.
The failure of SVB Financial Group rippled through global markets and sent shares of many banks tumbling.
Rising cost of money and hidden risks in the banking sector are concerning investors.
The banking sector is facing pressures from the Fed's tightening and the downturn in tech startups.
The money centers, especially JPMorgan Chase & Co, Bank of America, and Wells Fargo are best places to 'hide' due to their liquidity positions and large, diversified deposit funding.