The implications and consequences of the collapse of Silicon Valley Bank

It is something that promises to disturb and ripple, affecting global markets. The collapse of Silicon Valley Bank (SVB), the bank of choice for biotech companies and start-ups, has prompted a number of financiers and economists to see echoes of the 2008 financial crisis. Last week, it led to a massive selloff of financial stock across North America. Canada’s top banks were particularly affected over the course of four days, losing $C19.7 billion (A$21.6 billion).

It all happened over a matter of days.