The Latest Breaking News from SVB

The government is ready to take action, even in a caretaker position before the next administration takes power, should global volatility affect the country's economy or financial system, Finance Minister Arkhom Termpittayapaisith told reporters.

Before Silicon Valley Bank was shut on Friday, investors discussed its health while some recommended that depositors pull their money out.

Economic concerns stemming from the collapse of Silicon Valley Bank (SVB) will not affect long-haul visitors to Thailand in the short term as pent-up demand should support the market, but officials plan to monitor the long-term impact, according to the Tourism Authority of Thailand (TAT).

The collapse of Silicon Valley Bank sent ripples through the banking world, causing stocks like Comerica’s to fall as investors looked to guard themselves against a potential domino effect.