Silicon Valley Crisis Explained In 5 Points

The fall of Sililcon Valley Bank and Signature Bank have sparked fears of a financial crisis similar to the 2008 global recession.

The collapse of Silicon Valley Bank and Signature Bank within a week has stoked fears of a larger financial meltdown across regional US banks. The failures are two of the three biggest in US banking history, with the collapse of Washington Mutual in 2008 occupying the top spot. The fall of Washington Mutual led to a global recession, which lasted for nearly two years.

NDTV explains the Silicon Valley Crisis in 5 points

What Is The Silicon Valley Bank

Silicon Valley Bank, established in 1983, was the 16th biggest bank in America. Before collapsing, it used to provide services to nearly half of the venture-backed technology companies in the US.