Published on 22 Mar 2023 on ETF.com via Yahoo Finance
ETF Investors Target High Quality Stocks, Safe Havens in Bank Crisis
March 9: That’s the date when the investment world became acutely aware that something was amiss at America’s regional banks. Silicon Valley Bank had failed to raise capital to plug a hole in its balance sheet, and the bank’s depositors collectively attempted to take a whopping $42 billion out of their accounts all at once.
A day later, the bank would be deemed insolvent, setting off a crisis in the broader regional bank industry—one that’s only been contained thanks to the support of the government.