The collapse of Silicon Valley Bank: What you need to know
The Federal Reserve has announced it will review the collapse of Silicon Valley Bank, saying Vice Chair Michael Barr will be leading the investigation.
Many investors are now worried about contagion, with several bank stocks falling in Monday's trading. Leaders in Washington ran the gamut as the chaos spread, with Congressman Bryan Steil blaming inflation and California Representative Brad Sherman blaming the rollback of Dodd-Frank. It remains to be seen how these failures will reverberate across the financial system, but many, like Gallatin Group Principal John Popeo have begun speculating about what may be next for SVB and the banking system at large.
Yahoo Finance's Seana Smith and Dave Briggs walks viewers through the timeline of Silicon Vally Bank's collapse.
Key Video Moments:
0:17 About Silicon Valley Bank
0:41 How the Bank collapsed
1:07 Timeline of collapse
