Savers have been hit hard by the collapse of Silicon Valley Bank, according to experts.
The bank, which is California’s 16th largest, was forced to sell its $22 billion bond portfolio after recognizing a $1.8 billion loss, leading to regulators shutting it down.
While depositors will be protected through the FDIC, the collapse has caused concern among customers, particularly those who funded start-ups through the bank.
Experts have suggested that the collapse highlights the risks of low interest rates and easy money policies, and could lead to further bank announcements in the coming weeks.
The collapse is seen as a sign of the bursting of the “everything bubble”.
