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The New Daily
The New Daily
World
Matthew Elmas

Explained: How Silicon Valley Bank collapsed, and what’s next

Silicon Valley Bank United States SVB Australia California Signature
The collapse of two regional banks in the United States has sparked fears of wider financial turmoil. Photo: Getty

Monday saw a slide on Australian markets as the fallout from the collapse of California-based Silicon Valley Bank (SVB) reverberated across the world, sparking fears about a run on US deposits.

The bank failure, which began on Friday and is the second largest in US history, has thrown a cloud over billions of dollars worth of savings – some of which belong to Australian companies.

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