The second-largest bank failure in U.S. history rocked the tech industry and sent ripples of anxiety throughout the financial system Friday as Silicon Valley Bank went from being a key part of the tech ecosystem to collapsing in a matter of hours.
Democracy Dies in Darkness
Silicon Valley Bank closed in second-biggest bank failure in U.S. history
The bank, which caters to tech start-ups, was taken over by the government after a run on deposits Thursday, sparking concerns about broader economic fallout
,
and
Updated March 10, 2023 at 10:53 p.m. EST|Published March 9, 2023 at 11:52 p.m. EST