Is USA staring at financial crisis as SVB,Signature Bank shuts down? | Explainer | Oneindia News

Is USA staring at financial crisis as SVB,Signature Bank shuts down? | Explainer | Oneindia News

Within a span of just 48 hours, the United States has witnessed collapse of two major banks.

The first was the shutting down of the Silicon Valley Bank…and next was the turn of Signature Bank.

The Signature Bank’s fall is the third largest banking disaster in U.S. history after Washington Mutual, which collapsed during the 2008 financial crisis….and SVB’s collapse.

With these failures, the financial market is tense and talks of recession and contagion are really spooking everyone.

There are two questions that’s on everyone’s mind…First, Why did these two banks fail?

And second, what are the chances of financial contagion after these two major failures ?.

In this video, we will try to tell you answers to these two questions that are making everyone jittery.

But before that, don’t forget to like, share and subscribe to Oneindia.

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