4 banks have fallen so far - Silvergate, SVB, Signature bank and First Republic. Pacwest could be next. Many are saying this turmoil is the banking sector is caused by the Fed’s rate hikes.
Just to share, the banking sector has lost $2 trillion in market cap in the last few months. There were also more than $1 trillion in deposits withdrawn last year.
To add on, with such high interest rate, US is paying a record amount of interest for its debt.
We are standing dangerously standing at th...