Silicon Valley Bank (SVB) Contagion Fears Spark A Global Banking Sell-Off

In this episode, we take a look at what exactly happened to SVB and why the collapse in their share price on Thursday rippled through the banking sector resulting in the largest four US banks losing some $47bn of market value in just one day.

Was the move justified? Could one of the larger banks also fall victim to the same issue? We explain some key areas to watch in the coming days.

We also review the major shift in Fed language this week after Fed Chair Jerome Powell stated that the Federal Reserve will likely need to raise interest rates more than expected in response to recent strong data and is prepared to move in larger steps if the "totality" of incoming information suggests tougher measures are needed to control inflation.